Orbit determination based on cubature kalman filter by multi-station with velocity data only have important practical applications in space TT&C system. This paper studies the problem of the observability of the system and provides a modified observable degree analysis method. Satellite’s status equation and measurement equation are established and the modified analysis method is been applied to verify that the condition numbers parallel the orbit determination error. The simulation results proved the effectiveness of the modified method. The result of this paper can provide a theoretical reference for satation optimize embattle.