In this paper, we propose a method to improve performance of pilot symbol assisted modulation(PSAM) channel estimation method for OFDM systems over frequency selective channel. When channel values are estimated, the low pilot density used for channel estimation increases not only the effective data rate but also power efficiency. Thus, the lower pilot density which is used for channel estimation is better for OFDM system. At first, we estimate the channel values which are located at the middle of adjacent pilots, and then all of the possible channel values are estiamted by using original pilot values and previously estimated pilot values. Furthermore, the error of estimated channel values is reduced by introducing guard interval which is designed acccording to maximum channel delay. Performance achieved with the proposed method is illustrated by simulation experiments in comparison with the existing methods in terms of mean squared error(MSE).