Recently, the concept of "drive-by" bridge monitoring system using indirect measurements from a passing vehicle to extract key parameters of a bridge has been rapidly developed. As one of the most key parameters of a bridge, the natural frequency has been successfully extracted theoretically and in practice using indirect measurements. The frequency of bridge is generally calculated applying Fast Fourier Transform (FFT) directly. However, it has been demonstrated that with the increase in vehicle velocity, the estimated frequency resolution of FFT will be very low causing a great extracted error. Moreover, because of the low frequency resolution, it is hard to detect the frequency drop caused by any damages or degradation of the bridge structural integrity. This paper will introduce a new technique of bridge frequency extraction based on Hilbert Transform (HT) that is not restricted to frequency resolution and can, therefore, improve identification accuracy. In this paper, deriving from the vehicle response, the closed-form solution associated with bridge frequency removing the effect of vehicle velocity is discussed in the analytical study. Then a numerical Vehicle-Bridge Interaction (VBI) model with a quarter car model is adopted to demonstrate the proposed approach. Finally, factors that affect the proposed approach are studied, including vehicle velocity, signal noise, and road roughness profile.