In this paper, a new method using wind turbulence excitation is proposed to estimate the parameters of the mechanical system (drivetrain and pitch angle controller) in a Doubly Fed Induction Generator (DFIG) Wind Turbine (WT). Firstly, simulations were carried out for a DFIG WT under turbulence excitations. The spectral contents of the responses imply that the transients of the electrical system (generator and converter), which are much faster than those of the mechanical system, can be neglected when estimating the mechanical parameters. Based on this, a simplified model related to the mechanical system of the DFIG WT was derived by applying the model reduction technique. Secondly, the parameter sensitivity of Power Spectral Density (PSD) was used to quantify the impacts of individual parameters on the dynamics of the mechanical system, and the influential parameters were selected on the basis of the sensitivity results. Finally, a weighted least-squares optimization problem, which is suitable for a system with close oscillation modes, was formulated for parameter estimation. The estimation results based on two different types of optimization methods were compared, and their estimation accuracies validate the effectiveness of the proposed method.