In general, the information of inertia properties is required to control a spacecraft. The inertia properties are changed by some activities such as consumption of propellant, deployment of solar panel, sloshing, etc. Extensive estimation methods have been investigated to obtain the precise inertia properties. The gyro-based attitude data including noise and bias needs to be compensated for improvement of attitude control accuracy. A modified estimation method based on the law of conservation of angular momentum is suggested to avoid inconvenience like filtering process for noise-effect compensation. The conventional method is modified and beforehand estimated moment of inertia is applied to improve estimation efficiency of product of inertia. The performance of the suggested method has been verified for the case of STSAT-3, Korea Science Technology Satellite.