The forced oscillation technique (FOT) is an active pulmonary function measurement technique that was applied to identify the mechanical properties of the respiratory system using external excitation signals. FOT commonly includes single frequency sine, pseudorandom and periodic impulse excitation signals. Aiming at preventing the time-domain amplitude overshoot that might exist in the acquisition of combined multi sinusoidal pseudorandom signals, this paper studied the phase optimization of pseudorandom signals. We tried two methods including the random phase combination and time-frequency domain swapping algorithm to solve this problem, and used the crest factor to estimate the effect of optimization. Furthermore, in order to make the pseudorandom signals met the requirement of the respiratory system identification in 4–40 Hz, we compensated the input signals’ amplitudes at the low frequency band (4–18 Hz) according to the frequency-response curve of the oscillation unit. Resuts showed that time-frequency domain swapping algorithm could effectively optimize the phase combination of pseudorandom signals. Moreover, when the amplitudes at low frequencies were compensated, the expected stimulus signals which met the performance requirements were obtained eventually.