We present a novel deblurring algorithm for bi-level images blurred by some parameterizable point spread function. The proposed method iteratively searches unknown parameters in the point spread function and noise-to-signal ratio by minimizing an objective function that is based on the binariness and the difference between two intensity values of restoring image. In simulations and experiments, the proposed method showed improved performance compared with the Wiener filtering based method in terms of bit error rate after segmentation.