The invention provides a millimeter wave channel estimation method based on compressed sensing in a high-speed moving scene. The method comprises the following steps: step 1, analyzing downlink communication in a high-speed moving scene, considering the influence of Doppler frequency shift, carrying out channel modeling based on the low-rank characteristic and the spatial correlation characteristic of millimeter wave communication, and writing into a matrix form; step 2, after the channel matrix in the step 1 is quantized, designing the channel matrix shows sparse characteristics, and a perception matrix and a measurement matrix; and step 3, performing vectorization processing on the channel matrix presenting the sparse characteristic in the step 2, reconstructing the vectorized channel model based on a compressed sensing algorithm and the sensing matrix and the measurement matrix in the step 2, and calculating a normalized mean square error. The calculation cost is reduced, and the performance is improved.