In past decades, there has been a growing interest in the research of underwater acoustic communication. Due to attenuation, low propagation speed of the sound and multipath of underwater acoustic channel, signal parameter estimation becomes challenging and significant. In this paper, a multi-parameter estimation method of underwater acoustic signal was proposed. This method can estimate the channel gain, Doppler shift and phase compensation for single carrier signal. Meanwhile, the Cramer-Rao lower bound for this estimation method was also derived.