We propose an online estimated dictionary based single channel speech enhancement algorithm, which focuses on low rank and sparse matrix decomposition. In this proposed algorithm, a noisy speech spectral matrix is considered as the summation of low rank background noise components and an activation of the online speech dictionary, on which both low rank and sparsity constraints are imposed. This decomposition takes the advantage of local estimated dictionary high expressiveness on speech components. The local dictionary can be obtained through estimating the speech presence probability by applying Expectation Maximal algorithm, in which a generalized Gamma prior for speech magnitude spectrum is used. The evaluation results show that the proposed algorithm achieves significant improvements when compared to four other speech enhancement algorithms.