Wireless communication in vehicular networks is highly vulnerable to electromagnetic interference, which seriously undermines the communication effectiveness. Thus, interference estimation and elimination are essential in vehicular communications. To solve the multitasking problem of interference estimation and cancelation within the transformation domain of vehicular communications where they are divided into the consistency and inconsistency based on the different conditions of spectrum sensing, the present study proposes an iterative Bayesian sparse learning approach for simultaneous interference recovery and elimination which applies multiple Bayesian learning for measured signals, and the structured sparse learning method for simultaneous interference mitigation with signal recovery. Furthermore, the updating optimization based on Bayesian estimation framework is performed to facilitate the learning process and improve the performance of interference estimation and signal reconstruction. Simulation results show that the proposed algorithms achieved more rapid convergence and more accurate recovery (31.84% and 27.88% higher in spectrum sensing with consistency and inconsistency, respectively) than conventional algorithms. During all iterations, the proposed algorithms, because of updating optimization, were more robust than conventional ones, but the computational complexity remained largely the same. To explore the correlation between the parameters and the interference recovery performance, we performed experiments, which revealed linear, logarithmic, and exponential regression correlations for particular forms of interference. We also compared the demodulation performance of the proposed algorithm with existing methods, and it turned out the proposed algorithm also obtained higher gains on average in the bit error rate.