A　new　type　femtosecond　laser　tracker　is　one　high　precision　measurement　instrument　with　urgent　need　in　science　research　region　and　industrial　manufacture　field.　This　paper　focuses　on　the　operational　principle　and　the　structure　development　of　the　femtosecond　laser　tracer,　and　the　method　of　error　compensation　as　well.　The　system　modules　were　studied　and　constructed.　The　femtosecond　frequency　comb　module　was　firstly　analyzed　and　developed.　The　femtosecond　laser　frequency　comb　performed　perfectly　high　precise　distance　measurement　for　laser　tracker.　The　experimental　result　showed　that　the　stability　of　repetition　rate　reached　3.0x10(-12)@1s　and　the　stability　of　carrier　envelop　offset　reached　1.0x10(-10)@1s.　The　initial　experiment　showed　that　measurement　error　was　less　than　1ppm.　Later　the　error　compensation　module　was　introduced,　and　the　optoelectronic　aiming　and　tracking　control　module　was　built.　The　actual　test　result　showed　that　the　stability　of　miss　distance　was　better　than　2.0　mu　m,　the　tracking　speed　could　reach　2m/s.