We show that the time frequency analysis of the autocorrelation function is, in many ways, a more appropriate tool to resolve fractional revivals of a wave packet than the usual time domain analysis. This advantage is crucial in reconstructing the initial state of the wave packet when its coherent structure is short-lived and decays before it is fully revived. Our calculations are based on the model example of fractional revivals in a Rydberg wave packet of circular states. We end by providing an analytical investigation which fully agrees with our numerical observations on the utility of time-frequency analysis in the study of wave packet fractional revivals.