A method and apparatus for estimating a wave velocity of negative pressure wave in a fluid transportation pipeline. The method including: receiving a plurality of pressure signals from a plurality of sensors; determining time differences produced by the negative pressure wave reaching the adjacent sensors based on the received pressure signals; determining a wave source sensor segment where a wave source of the negative pressure wave is located; and estimating the wave velocities of the negative pressure wave in a non-wave source sensor segment and the wave source sensor segment.