Pedestrian dead reckoning (PDR) using inertial sensors has paved the way for developing several approaches to step length estimation. In particular, emerging step length estimation models are readily available to be utilized on smartphones, yet they are seldom formulated considering the kinematics of the human body during walking in combination with measured step lengths. We present a new step length estimation model based on the acceleration magnitude and step frequency inputs herein. Spatial positions of anatomical landmarks on the human body during walking, tracked by an optical measurement system, were utilized in the derivation process. We evaluated the performance of the proposed model using our publicly available dataset that includes measurements collected for two types of walking modes, i.e., walking on a treadmill and rectangular-shaped test polygon. The proposed model achieved an overall mean absolute error (MAE) of 5.64 cm on the treadmill and an overall mean walked distance error of 4.55% on the test polygon, outperforming all the models selected for the comparison. The proposed model was also least affected by walking speed and is unaffected by smartphone orientation. Due to its promising results and favorable characteristics, it could present an appealing alternative for step length estimation in PDR-based approaches.