We propose a new channel estimation method based on filter-bank multicarrier-quadrature amplitude modulation (FBMC/QAM) for use in evolved multimedia broadcast multicast systems (eMBMSs). To achieve this goal, we use two different prototype filters to satisfy the orthogonality conditions for even and odd subcarriers. Orthogonality conditions cannot, in practice, be guaranteed using only two filters because they generate residual interference, including intercarrier and intersymbol interference, which makes it difficult to obtain accurate channel coefficients at reference symbols and leads to degraded channel estimation and bit error rates (BERs). To reduce the influence of residual interference on channel estimation, we model residual interference in a closed form over a multipath channel. Based on this approximated residual interference, the interference is effectively cancelled with respect to the reference, thereby significantly improving the FBMC/QAM-based eMBMS performance. Simulation demonstrates that the proposed method improves the mean squared error, BER, and the effective data rate.