This paper proposes a subband filtering technique to the MUSIC and the ESPRIT algorithm for estimating the magnitude and frequency of the harmonics of power signal. In proposed method, the input power signal is decomposed to the odd harmonics and the even harmonics respectively by the filter bank system. The amplitude and the frequency estimation of the decomposed harmonics are carried out using the MUSIC and the ESPRIT method. Subband filtering can reduce the autocorrelation matrix size of input data, and spectrum leakage between adjacent harmonics. Therefore, this subband technique has advantage in computational cost and estimation accuracy compared to fullband MUSIC and ESPRIT. To demonstrate the performance of the method, computer simulations are performed to the synthesized input signal, and experiment results are compared in subband and fullband cases.