The invention provides a joint channel large-scale fading estimation method based on spatial correlation. The method comprises the following steps: acquiring the known position information, moving speeds and channel large-scale fading estimation values of users in a preset region; determining a spatial correlation matrix of channel large-scale fading among the users according to the known position information, moving speeds and channel large-scale fading estimation values of the users in the preset region; acquiring unknown user channel large-scale fading estimation values according to the spatial correlation of the spatial correlation matrix. According to the embodiment of the invention, unknown user channel large-scale fading estimation values can be obtained by using the spatial correlation according to the known user channel large-scale fading estimation values in the preset region, and the known user channel large-scale fading estimation accuracy is increased. The invention further provides a base station.