In this paper, a new reconfigurable processor for channel estimation in Orthogonal Frequency Division Multiplexing systems (OFDM) is proposed. The channel estimation algorithms are discussed and compared following the computational complexity criteria and the signal performances. Some representative algorithms are chosen to illustrate the different techniques of channel estimation, and are implemented. The processor CERA (Channel Estimation Reconfigurable Architecture) offers a wide flexibility and can manage the arithmetic operations of the channel estimation algorithms, in addition to those of other functionalities of the baseband OFDM system. It is compared, in terms of silicon area and power consumption, with other dedicated units in order to estimate the processor flexibility overhead.