An implantable medical device system and method detect oversensing of cardiac signals. A cardiac signal including first events and second events is acquired. Cardiac events are sensed in response to the cardiac signal crossing a first threshold. A filtered cardiac signal is determined from the sensed cardiac signal, and a second threshold is determined from the filtered cardiac signal. A sensed cardiac event is classified either as a first event when the sensed cardiac event corresponds to a filtered cardiac signal peak crossing the second threshold or a second event when the sensed cardiac event corresponds to a filtered cardiac signal peak being less than the second threshold. Classification of sensed cardiac events as second events is used in determining oversensing.
