The objective of this paper is to make a comparative study on different phasor and frequency measurement algorithms available for power systems. The dynamic nature of the power system signals has made the estimation of frequency and phasors difficult. Over the years, many digital algorithms have been developed to overcome these difficulties and to provide accurate real-Time frequency and phasor measurements. In this paper, four different algorithms for frequency estimation and three different algorithms for phasor estimation are studied and compared. A case study is performed by considering a three-phase voltage signal with time-varying amplitude and frequency to verify the effectiveness of these estimation algorithms. © 2016 IEEE.