Aspects of a method and system for channel estimation in a MIMO communication system with multiple RF chains for WCDMA/HSDPA may comprise receiving a plurality of communication signals from a plurality of transmit antennas. A plurality of vectors of baseband combined channel estimates may be generated based on phase rotation of the received plurality of communication signals. A matrix of processed baseband combined channel estimates may be generated based on the generated plurality of vectors of baseband combined channel estimates. A plurality of amplitude and phase correction signals may be generated based on the generated plurality of vectors of baseband combined channel estimates. An amplitude and a phase of at least a portion of the received plurality of communication signals may be adjusted based on the generated plurality of amplitude and phase correction signals, respectively.