The compressed sampling theory provides a good idea for sampling broadband linear frequency-modulated (LFM) signal, but the signal reconstruction after sampling should be considered when using the compressed sampling system to sample the signal. For the problem of estimating the parameters of the LFM signal under the condition of nonreconstruction, a method combining random demodulation (RD) and waveform matching (WM) dictionary is proposed in this paper. Firstly, the RD system is used to collect the compressed sampling data of LFM signal. In order to ensure the validity of the compressed sampling data, the value of the compressed sampling rate R in the RD system is discussed. Then, the feasibility of using compressed sampling data to estimate LFM signal parameters is theoretically demonstrated. According to the construction principle of waveform matching dictionary, the corresponding relationship between sparse representation coefficients, dictionary atoms, and signal parameters can be determined. Using this theory, the LFM signal parameters can be estimated. Finally, simulation and real signal experiments verify that the proposed method can realize the estimation of initial frequency and chirp rate of LFM signal when some prior information is known.