The estimation of the power spectral density (PSD) of noise is crucial for retrieving speech in noisy environments. In this study, we propose a novel method for estimating the non-white noise PSD from noisy speech on the basis of a generalized gamma distribution and the minimum mean square error (MMSE) approach. Because of the highly non-stationary nature of speech, deriving its actual spectral probability density function (PDF) using conventional modeling techniques is difficult. On the other hand, spectral components of noise are more stationary than those of speech and can be represented more accurately by a generalized gamma PDF. The generalized gamma PDF can be adapted to optimally match the actual distribution of the noise spectral amplitudes observed at each frequency bin utilizing two real-time updated parameters, which are calculated in each frame based on the moment matching method. The MMSE noise PSD estimator is derived on the basis of the generalized gamma PDF and Gaussian PDF models for noise and speech spectral amplitudes, respectively. Combined with an improved Weiner filter, the proposed noise PSD estimate method exhibits the best performance compared with the minimum statistics, weighted noise estimation, and MMSE-based noise PSD estimation methods in terms of both subjective and objective measures.