The existing State of Charge (SOC) estimation methods assume constant parameters for the battery model and do not consider the dynamic changes in these parameters, resulting in imprecise SOC estimates. In view of this limitation, the paper introduced an algorithm that combines online identification of battery model parameters with SOC estimation. Based on the second-order RC equivalent circuit model, it used Multi Innovation Least Squares (MILS) algorithm to identify the parameters in the lithium-ion battery model online, so as to modify the battery model in real time. At the same time, based on the modified battery model, it estimated the battery state of charge through Multi Innovation Extended Kalman Filter (MIEKF) algorithm. MILS algorithm can solve the problem of initial error accumulation in the process of online parameter identification, and can realize online accurate identification of model parameters. MIEK algorithm combines multi-innovation theory and Kalman filter theory, adds forgetting factor to weaken historical data and correct weight, solves the problem of data oversaturation, and has high accuracy and convergence. The experimental results show that, when identifying the parameters of the battery model, the Root Mean Square Error (RMSE) of the MILS algorithm is 1.4 mV, the RMSE of the RLS algorithm is 1.9 mV, and the estimation accuracy is improved by 26.3%. For the SOC estimation after parameter identification, the RMSE estimated by the MIEKF algorithm is 0.003 7, while the RMSE estimated by the EKF and AEKF algorithms are 0.007 3 and 0.005 2, respectively. The MIEKF algorithm improves the estimation accuracy by 49.31% compared to the EKF algorithm and by 28.84% compared to the AEKF algorithm. Moreover, in the case of an incorrect initial SOC value, the proposed algorithm can converge to the true value after about 30 seconds of battery operation. The algorithm proposed in the paper is an effective estimation method with high accuracy and good robustness.