This work presents an extension of the high-resolution RiMAX multipath estimation algorithm, enabling the analysis of frequency-dependent propagation parameters for ultra-wideband (UWB) channel modeling. Since RiMAX is a narrowband algorithm, it does not account for the frequency-dependency of the radio channel or the environment. As such, the impact of certain materials in which these systems operate can no longer be considered constant with respect to frequency, preventing an accurate estimation of multipath parameters for UWB communication. In order to track both the specular and dense multipath components (SMC and DMC) over frequency, an extension to the RiMAX algorithm was developed that can process UWB measurement data. The advantage of our approach is that geometrical propagation parameters do not appear or disappear from one sub-band onto the next. The UWB-RiMAX algorithm makes it possible to re-evaluate common radio channel parameters for DMC in the wideband scenario, and to extend the well-known deterministic propagation model comprising of SMC alone, towards a more hybrid model containing the stochastic contributions from the DMC’s distributed diffuse scattering as well. Our algorithm was tested with synthetic radio channel models in an indoor environment, which show that our algorithm can match up to 99% of the SMC parameters according to the multipath component distance (MCD) metric and that the DMC reverberation time known from the theory of room electromagnetics can be estimated on average with an error margin of less than 2 ns throughout the UWB frequency band. We also present some preliminary results in an indoor environment, which indicate a strong presence of DMC and thus diffuse scattering. The DMC power represents up to 50% of the total measured power for the lower UWB frequencies and reduces to around 30% for the higher UWB frequencies.