The invention discloses a direction finding method for a three-channel spatial spectrum estimation direction finding system. The system comprises a direction finding antenna array, three common-frequency multi-channel receivers and a direction finding algorithm processor, wherein the direction finding antenna array is a 9-element uniform circular array and is provided with an antenna select switch for selecting different antenna elements in the antenna array; three antennas are selected by the antenna select switch each time, wherein the No. 1 antenna is required to be selected each time; 1, 2 and 9, 1, 3 and 8, 1, 4 and 7, and 1, 5 and 6 are selected, wherein each number represents the number of the selected antenna, and the four groups of antennas are alternately selected; the direction finding receivers are of three-channel; and three antennas selected by the antenna switch each time are connected with the three common-frequency multi-channel receivers respectively. By researching the spatial spectrum estimation direction finding technology and improving an MUSIC direction finding algorithm, receiving channels are reduced under the condition of not reducing the antenna elements; meanwhile, the direction finding performance is guaranteed to be unchanged; and the aims of lowering the cost of the direction finding equipment and improving the reliability of the equipment are fulfilled.