Decision-directed channel estimation (DDCE) is one kind of blind channel estimation method that tracks the channel blindly by an iterative algorithm without relying on the pilots, which can increase the utilization of wireless resource. However, one major problem of DDCE is the performance degradation caused by error accumulation during the tracking process. In this paper, we propose an reliable DDCE (RDDCE) scheme for an OFDM-based communication system in the time-varying deep fading environment. By combining the conventional DDCE and discrete Fourier transform (DFT) channel estimation method, the proposed RDDCE scheme selects the reliable estimated channels on the subcarriers which are less affected by deep fading, and then estimates the channel based on the selected subcarriers by an extended DFT channel estimation where the indices of selected subcarriers are not distributed evenly. Simulation results show that RRDCE can alleviate the performance degradation effectively, track the channel with high accuracy on a long time scale, and has good performance under time-varying and noisy channel conditions.