In this paper, a new analytical estimator for light flicker in frequency domain, which is able to take into account also the frequency components neglected by the classical methods proposed in literature, is proposed. The analytical solutions proposed apply for any generic stationary signal affected by interharmonic distortion. The light flicker analytical estimator proposed is applied to numerous numerical case studies with the goal of showing i) the correctness and the improvements of the analytical approach proposed with respect to the other methods proposed in literature and ii) the accuracy of the results compared to those obtained by means of the classical International Electrotechnical Commission (IEC) flickermeter. The usefulness of the proposed analytical approach is that it can be included in signal processing tools for interharmonic penetration studies for the integration of renewable energy sources in future smart grids.