The estimation of ridge parameter is an important problem in the ridge regression method, which is widely used to solve multicollinearity problem. A comprehensive study on 28 different available estimators and five proposed ridge estimators, KB1, KB2, KB3, KB4, and KB5, is provided. A simulation study was conducted and selected estimators were compared. Some of selected ridge estimators performed well compared to the ordinary least square (OLS) estimator and some existing popular ridge estimators. One of the proposed estimators, KB3, performed the best. Numerical examples were given.