To overcome the shortcoming of the conventional spectrum recovery method, concepts and basic algorithms of a modern spectrum estimation are introduced. Two different methods (auto-Regressive parametric model and multiple signal classification algorithm) are used to reconstruct light spectrum from interferogram.Compared with conventional method for spectrum reconstruction, the modern spetrum estimation methods can well be adopted in spectrum reconstruction and perform excellently, especially when it is used to get higher spectrum resolution from a short series of data recorded.