Frequency refining is an important spectrum analyzing tool, and is one of the main function of signal processing and the virtual instrument. This paper introduces several typical frequency refining analysis methods including DFT and multiple modulation and so on. It also probes into their advantages and disadvantages, and proposes a new frequency refining method combining subband decomposing DFT and multiple modulation, which inherits the advantages of multiple modulation, needs not to design a specific filter, reduces the amount of calculation, and is fit for real-time refining analysis. At last, it exhibits several frequency refining algorithm and their effects with applications in virtual instruments.