Aspects of a method and system for channel estimation for interference suppression are provided. In this regard, one or more circuits and/or processors of a mobile communication device may generate and/or receive a first set of channel estimates and a second set of channel estimates. The one or more circuits and/or processors may modify the second set of channel estimates based on a comparison of a measure of correlation between the first set of channel estimates and the second set of channel estimates with a threshold. The first set of channel estimates and/or the modified second set of channel estimates may be utilized for cancelling interference in received signals. The first set of channel estimates may be associated with a first transmit antenna of a base transceiver station and the second set of channel estimates may be associated with a second transmit antenna of the base transceiver station.