In the two-band excitation (TBE) model, maximum voiced frequency (MVF) is the most important feature of the excitation parameter because the synthetic speech quality depends on MVF. Thus, this paper proposes an enhanced MVF estimation scheme based on the peak picking method. In the proposed scheme, the local peak and the peak lobe are picked from the spectrum of a linear predictive residual signal. The normalized distance between neighboring peak lobes is calculated and utilized as a feature to estimate MVF. Experimental results of both objective and subjective tests show that the proposed scheme improves synthetic speech quality compared with that of the conventional one.