We find that placing each pilot tone in an equally spaced manner according to the conventional placement scheme is not suitable for doubly selective channel estimation. In this paper, we propose an efficient pilot tone placement scheme enabling accurate channel estimation in OFDM systems regardless of time variations of a channel. Since the number of channel impulse response taps to be estimated is typically much greater than the number of pilot tones, linear minimum mean square error (LMMSE) estimation schemes for time-invariant channels cannot be straightforwardly extended to doubly selective channel estimation. To overcome this problem, we propose an accurate LMMSE channel estimator that exploits a small number of pilot tones located according to the derived pilot placement. To achieve performance close to the LMMSE estimator but with lower complexity, an approximate LMMSE (ALMMSE) channel estimator is also proposed. Finally, we propose a novel iterative ALMMSE channel estimator that achieves better performance than the LMMSE and ALMMSE estimators, while having complexity in between the two.