Accurate estimation of the center of mass is necessary for evaluating balance control during quiet standing. However, no practical center of mass estimation method exists because of problems with estimation accuracy and theoretical validity in previous studies that used force platforms or inertial sensors. This study aimed to develop a method for estimating the center of mass displacement and velocity based on equations of motion describing the standing human body. This method uses a force platform under the feet and an inertial sensor on the head and is applicable when the support surface moves horizontally. We compared the center of mass estimation accuracy of the proposed method with those of other methods in previous studies using estimates from the optical motion capture system as the true value. The results indicate that the present method has high accuracy in quiet standing, ankle motion, hip motion, and support surface swaying in anteroposterior and mediolateral directions. The present method could help researchers and clinicians to develop more accurate and effective balance evaluation methods.