A real-time channel estimation system, which receives a wireless transmission signal through a wireless channel and estimates channel parameters of the wireless channel in real-time. The system includes a channel estimator to receive the wireless transmission signal and output the channel parameters; first and second filters to filter the channel parameters for producing a first and a second sets of filtered channel parameters; first and second calculators to compute according to the first and the second sets of filtered channel parameters and the wireless transmission signal for producing a first and a second probabilities; a comparator to compare the first and the second probabilities for producing an indicative signal; and a multiplexer to receive the indicative signal for accordingly selecting the first or second set of filtered channel parameters as an output.