The total-variation (TV) regularization has been widely used in image restoration domain, due to its attractive edge preservation ability. However, the estimation of the regularization parameter, which balances the TV regularization term and the data-fidelity term, is a difficult problem. In this paper, based on the classical split Bregman method, a new fast algorithm is derived to simultaneously estimate the regularization parameter and to restore the blurred image. In each iteration, the regularization parameter is refreshed conveniently in a closed form according to Morozov’s discrepancy principle. Numerical experiments in image deconvolution show that the proposed algorithm outperforms some state-of-the-art methods both in accuracy and in speed.