Channel vector was estimated only by utilizing pilot channel in conventional 2-D RAKE receiver.The weights were further calculated to detect the symbol sequences in traffic channel.The estimation error will be large when the power of pilot is low.A novel algorithm was proposed in this paper.We employed pilot to get the initial channel vector in the first instance.Iterative least squares with projection algorithm was then used to estimate the channel and symbol sequences jointly.This algorithm is characterized by low computation complexity and rapid convergence rate.Computer simulation demonstrates that the algorithm has improved the system performance effectively compared with conventional 2-D RAKE receiver.