An novel analysis method of target location accuracy of multiple factors is proposed for the space-based optical sensor network. A measurement model is established using the transformation from target stereo position to focal plane. Then, possible error sources about target location are analyzed. By introducing the line-of-sight vector in the earth-centered inertial coordination as a temporary variable, error transmission matrices among the target stereo poistion, the line-of-sight and the target measurement position in the focal plane are derived. Furthermore, a theoretical analysis model of target location accuracy is established based on least squared criterion. The efficiency of this analysis model is verified by Monte Carlo simulation. Some results could provide references for engineering applications, e.g. multiple-sensor management.