This paper presents a new method for the detection and parameter estimation of multicomponent LFM signals based on the fractional Fourier transform. For the optimization in the fractional Fourier domain, an algorithm based on Quasi-Newton method is proposed which consists of two steps of searching, leading to a reduction in computation without loss of accuracy. And for multicomponent signals, we further propose a signal separation technique in the fractional Fourier domain which can effectively suppress the interferences on the detection of the weak components brought by the stronger components. The statistical analysis of the estimate errors is also performed which perfects the method theoretically, and finally, simulation results are provided to show the validity of our method.