The accuracy and robustness of object-tracking algorithms are challenging tasks in the field of artificial intelligence. The discriminative correlation filter has fast tracking speed and target discrimination ability in visual target tracking, but it will be affected by unnecessary boundary effects. Although spatially regularized discriminative correlation filters (SRDCF) effectively solve this problem, it faces a slow tracking speed and cannot meet the real-time requirement. Moreover, the constraints added by this algorithm are fixed during the tracking process, which needs to reflect better the characteristics and appearance changes of a particular object. Therefore, we propose an adaptive spatial regularization target tracking model based on multifeature fusion and learn the spatial regularization weights by adaptive spatial regularization terms, so that the filter can adapt to the changes of the target, which can highlight the target area and suppress the background area more accurately. At the same time, in order to cope with the problem of target loss when the target is obscured by a large area or rotated to a large extent, texture features are introduced to improve the deficiencies of HOG features and CN features, so as to achieve the complementary advantages among different features. In addition, the benchmark algorithm SRDCF uses Gaussian–Seidel iterative method to solve the filter, which makes the tracking speed very slow and cannot be tracked in real time. Therefore, this paper proposes an ADMM (alternating direction method of multiplier) algorithm to optimize the solution of the filter and achieve the tracking real-time requirement. The experimental results on the OTB-2015 dataset show that the accuracy and success rate of the improved algorithm reach 86% and 81.9%, respectively. At the same time, in the OTB-2013 dataset, it has increased by 3.4% and 6.3%, respectively, on the basis of the benchmark algorithm. It is verified that the improved model not only improves the robustness of the algorithm but also can better adapt to the changes of the target, while effectively reducing the computational overhead and meeting the tracking real-time requirements.