In an existing millimeter-wave MIMO (Multiple Input Multiple Output) system, in order to execute relatively accurate beam forming or spatial multiplexing, commonly, a reference signal needs to be sent on a working frequency band of the system; after estimation, frequency domain, spatial dimension and intensity state information of a channel, which is changed along time, i.e. CSI (Channel State Information); and feedback is carried out. However, the scheme has the problems that a big error is easy to generate for a system which cannot meet channel reciprocity, a certain system cost is brought in, and flexibility of system capacity and resource allocation is influenced. Therefore, the invention discloses a channel measurement and feedback method based on a cognitive radio technology. An idle frequency band is detected near the working frequency band of the system, and according to channel correlation and an idle frequency band available resource condition, channel measurement or feedback of the CSI is flexibly selected to be executed on the idle frequency band or the working frequency band, so that cost on the working frequency band of the system is reduced, and spectral efficiency, reliability and coverage are improved.