A method and system is disclosed for clock synchronization in a wireless backhaul network, based on the IEEE1588 Precision Time Protocol (PTP). The network comprises a plurality of hubs, each hub serving one or more remote backhaul modules. Each hub comprises a slave clock, which communicates with a master clock through forward and reverse links. The method comprises, for each hub, estimating the frequency drift {circumflex over (α)} and offset {circumflex over (β)} from the forward and reverse links between the master and slave clock, estimating the accuracy of {circumflex over (α)} and {circumflex over (β)}, determining the least congested link, and adjusting the frequency of the slave clock based on {circumflex over (α)} and {circumflex over (β)} from the least congested link. A fixed or variable time window size is selected to achieve a desired accuracy of {circumflex over (α)} and {circumflex over (β)}. The method may comprise estimating a maximum holdover time for maintaining synchronization with a desired confidence level.