In the blind reception of non‐cooperative signals in short‐time burst communication, signal time domain detection is the premise and key of signal modulation parameter estimation, signal demodulation, decoding, interpretation, information acquisition and interference guidance. In this paper, the semi‐blind demodulation method of short‐time burst FM‐MFSK signal is studied under the condition of low signal‐to‐noise ratio. A short‐time burst FM‐MFSK semi‐blind demodulation method based on STFT is proposed. When SNR is higher than 3 dB, the correct demodulation probability for FM‐MFSK signal can reach 90%.