Light-emitting diodes (LEDs) are widely employed in industrial applications and scientific research. However, spectral distortions will occur due to the broadening effects of the spectrometer when an LED spectrum is obtained with a spectrometer. In this paper, a novel approach is put forward to correct bandwidth for an LED spectrum based on a Levenberg-Marquardt algorithm and He-Zheng model. We compare estimation errors of different LED spectra by using the proposed method along with the Richardson-Lucy method and differential operator approach. The experimental results show that the effect of the proposed approach is better than that of the other two methods.