This paper presents a simple and accurate method (the projection method) to improve the signal to noise ratio of localized surface plasmon resonance (LSPR). The nanostructures presented in the paper can be readily fabricated by nanoimprint lithography. The finite difference time domain method is used to simulate the structures and generate a reference matrix for the method. The results are validated against experimental data and the proposed method is compared against several other recently published signal processing techniques. We also apply the projection method to biotin-streptavidin binding experimental data and determine the limit of detection (LoD). The method improves the signal to noise ratio (SNR) by one order of magnitude, and hence decreases the limit of detection when compared to the direct measurement of the transmission-dip. The projection method outperforms the established methods in terms of accuracy and achieves the best combination of signal to noise ratio and limit of detection.