As the number of mobile users and video traffics grow explosively, the data rate demands increase tremendously. To improve the spectral efficiency, the spectrum are reused inter cell or intra cell, such as the ultra dense network with multi-cell or the cellular network with Device-to-Device communications, where the co-channel interferences are brought and needs to be suppressed. According to the time-frequency energy sensing to the communication signals, the desired signal and the interference signal have different energy concentration areas on the time frequency plane, which provide opportunities to suppress the co-channel interference with time varying filter. This paper analyzes the time-frequency distributions of the Gaussian pulse shaping signals, discusses the effect of the analyzing window length on the time-frequency resolution, exploits the equivalence between the time frequency analysis at the baseband and at the radio front end, and finally reveals the advantages of the proposed masking threshold constrained time varying filter based co-channel interference mitigation method. The pass region for the linear time varying filter is generated according to the time-varying energy characteristics of the I/Q separated 4-QAM pulse shaping signals, where the optimum masking threshold is obtained by the optimum-BER criterion. The proposed co-channel interference suppression method is evaluated in aspect of BER performance, and simulation results show that the proposed method outperforms existing methods with low-pass or band-pass filters.