The extra-solar planet WASP-1b, discovered by SuperWASP consortium in 2006, was observed through R filter using the 1-meter telescope with CCD camera at Yunnan Observatory on November 11, 2006. The systematic errors in photometric data were reduced by means of Tamuz et al. (2005) and Collier Cameron et al. (2006)'s algorithms. In order to estimate the parameters of the system, the MCMC (Markov Chain Monte Carlo) analysis is applied to fit the observed light curve. The following parameters of the system are derived: Rp=1.44RJ, Mp=0.88MJ, R*=1.52R⊙, a=0.0396AU. The new parameters of the planet imply its low density, which agrees to the previous results.