Lateral velocity is an important parameter to characterize vehicle stability. The acquisition of lateral velocity is of great significance to vehicle stability control and the trajectory following control of autonomous vehicles. Aiming to resolve the problems of poor estimation accuracy caused by the insufficient modeling of traditional model-based methods and significant decline in performance in the case of a change in road friction coefficient, a deep learning method for lateral velocity estimation using an LSTM, long-term and short-term memory network, is designed. LSTM can well reflect the inertial characteristics of vehicles. The training data set contains sensor data under various working conditions and roads. The simulation results show that the prediction model has high accuracy in general and robustness to the change of road friction coefficient.