Photoplethysmography (PPG) is a non-invasive technology and widely used in medical monitoring. Nowadays, dynamic vital signs monitoring based on PPG technology is in emergence and shows great potential for commercialization, however, it is still challenged by massive noise evoked by respiration and muscle contraction. Herein, a portable PPG signal's dynamic acquisition and denoise system is constructed and applied to blood pressure (BP) estimation, in which an improved PPG denoise method based on complete ensemble empirical mode decomposition with adaptive noise and wavelet transform (CEEMDAN-WT), is described. Firstly, original PPG signal is measured by the proposed hardware, then CEEMDAN decomposes it into a group of components. Secondly, the noise dominated components are found by calculating the coefficients between the components and original signal, and removed by WT. Thirdly, fast Fourier transform is performed to remove the component whose dominant frequency exceeds 0.5–20 Hz. Fourthly, a fresh PPG signal is reconstructed and compared with the signal rebuilt by other methods, which proves that CEEMDAN-WT has higher signal-to-noise ratio and lower root mean square error. Last but not least, the reconstructed signal is applied to estimate systolic and diastolic BP, according to Windkessel model and aided by neural network algorithm. Overall, this work demonstrates the feasibility of the portable PPG dynamic acquisition and its application for dynamic vital signs monitoring, in which CEEMDAN-WT algorithm can effectively remove most of the noises in dynamic PPG signal. In conclusion, it demonstrates CEEMDAN-WT method can effectively remove noise from PPG signals in the state of motion, it may have a good potential for calculating other physiological indexes besides BP, and push PPG applications from professional medical to daily life.