Accurate heart rate estimation using Doppler radar and Frequency Modulated Continuous Wave (FMCW) radar is highly valued for privacy protection and the ability to measure through clothing. Conventional methods struggle to isolate the heartbeat from respiration and body motion. This paper introduces a novel heart rate estimation method using Variational Mode Decomposition (VMD) via Multiple-Input Multiple-Output (MIMO) FMCW radar. The proposed method first estimates human positions within the radar’s coverage, reducing noise by focusing on signals from these positions. The signal is then decomposed into multiple Intrinsic Mode Function (IMF) signals using VMD, and the heartbeat-specific IMF is extracted based on its center frequency. The heart rate signal is reconstructed using weighted addition of IMF signals for each radar cell, with cells defined by specific angles and distances within the coverage area. Peak detection is used to estimate heart rate from these reconstructed signals. To ensure accuracy, the method selects the heart rate estimate with the highest energy and periodicity for the first four time windows. From the fifth time window onward, it selects the estimate closest to the average of the previous four, minimizing extraneous variations. Experiments conducted with one and two subjects showed promising results. In case 1, with one subject, the method achieved a Mean Absolute Error (MAE) of 2.54 BPM and an exclusion rate of 0.94% using MIMO FMCW radar, compared to 4.72% with Doppler radar. In case 2, with two subjects, the method achieved an MAE of 2.28 BPM, confirming accurate simultaneous heart rate estimation.