Abstract: As a strong candidate for 5G multi-carrier technology, Universal-filtered Multi-carrier(UFMC) can suppress out-of-band power leakage through the use of sub-band filters, reducing synchronization requirements and achieving higher spectral efficiency. However, in order to improve the transmission efficiency no guard interval is inserted between adjacent symbols in UFMC system, making the receiver vulnerable to interference caused by multipath channel. In this article, the performance of UFMC under slow time-varying multipath channel was analyzed firstly. Secondly, in order to eliminate the interference caused by multipath channels, a new channel estimation scheme was proposed. This scheme designed a special pilot with repetitive patterns for channel estimation with low complexity. Finally, two new equalization algorithms were proposed to eliminate ISI、ICI and IBI caused by multipath channel, which were Zero-Forcing equalization algorithm based on interference cancellation and equalization algorithm based on Iterative Interference Cancellation. The simulation results show that the schemes proposed for channel estimation and equalization in this paper can effectively eliminate ISI、ICI and IBI suffered by UFMC system under multipath channel.