To achieve high-precision measurements under the operating conditions of optoelectronic tracking systems and satisfy high-precision target matching in complex environments, in this study we adopted the average normalized cross-correlation algorithm. To improve the matching speed and real-time tracking, the computational complexity was simplified by using the sum table method to correlate the sum of images, squares, and the correlation of images. The wavelet pyramid method was used as the search strategy, and the center of the template was used as the reference point for cross-shaped search. A termination threshold was introduced, which reduced the number of mismatched points to increase the search speed. To verify the effectiveness of the algorithm, an optoelectronic tracking system was placed on a two-dimensional turntable in an experiment that used the algorithm to track a target. The experimental results show that the missed target was controlled within 3 pixels. The proposed algorithm can realize high-precision and stable tracking in optoelectronic tracking systems.