Early kick/loss detection is a crucial part of safe well control, and it plays a major role in the reduction of risk and non-productive time in drilling. In conventional drilling, topside sensing is used for early kick/loss detection. Recently, a Venturi flow meter based online return flow estimation has been introduced for this purpose by the authors. In managed pressure drilling, both topside sensing and bottomside sensing can be used for kick/loss detection. Therefore, a topside return flow estimator with a bottomside well pressure and flow estimator is combined to provide a complete kick/loss detection and estimation scheme for managed pressure drilling systems. This allows improved kick/loss detection. In addition, a closed-loop kick/loss attenuation controller is used to illustrate the estimation scheme.