-This paper presents a DFT (Discrete Fourier Transform) based estimation algorithm for the parameters of a low-frequency oscillating signal. The proposed method estimates the parameters, i.e., the frequency, the damping factor, the mode amplitude, and the phase, by fitting a discrete Fourier spectrum with an exponentially damped cosine function. Parameter estimation algorithms that consider the spectrum leakage of the discrete Fourier spectrum are introduced. The multi-domain mode test functions are tested in order to verify the accuracy and efficiency of the proposed method. The results show that the proposed algorithms are highly applicable to the practical computation of low-frequency parameter estimations based on DFTs.