A new method for the estimation of modal parameters is presented in this paper. Unlike the majority of the existing methods which involve complicated curve fitting and interpolative procedures, the proposed method calculates the modal parameters by solving eigenvalue problem of an equivalent eigensystem derived from measured frequency response function (FRF) data. It is developed based on the practical assumption that only one incomplete column of the FRF matrix of the test structure has been measured in a frequency range of interest. All the measured FRFs are used simultaneously to construct the equivalent eigensystem matrices from which natural frequencies, damping loss factor and modeshape vectors of interest can be directly solved. Since the identification problem is reduced to an eigenvalue problem of an equivalent system, natural frequencies and damping loss factors identified are consistent. Further procedures for normalizing the identified eigenvectors so that they become mass-normalized are developed. Numerical case examples are given to demonstrate the practicality of the proposed method and results obtained are indeed very promising. It is believed that with the availability of such identification method, modal analysts’ dream of intelligent and full automatic modal analysis will become a reality.