The Geosynchronous Satellite Synthetic Aperture Radar (GEO SAR) operates at a high orbital altitude, resulting in an extended imaging time and substantial variations in slant range. Additionally, the GEO SAR satellite orbit experiences a bending effect, and the target’s movement, caused by the Earth’s rotation, is influenced by the Earth’s curvature. The back-projection (BP) algorithm has been proven to be a highly effective technique for precise imaging with GEO SAR by processing these specific echo signals. However, this approach necessitates considerable computational resources. Existing BP algorithms, such as the fast BP algorithm, do not consider the “Stop-and-Go” error present in GEO SAR. Consequently, we developed a Precise Slant Range Model that considers the motion of both the satellite and targets. The model incorporates velocity and acceleration factors to accurately represent the signal transmission from transmission to reception. Additionally, we propose a Rapid Range History Construction Method to lessen the computational burden of generating the three-dimensional range history array. By utilizing the Precise Slant Range Model and the Rapid Range History Construction Method, and employing parallel processing through aperture segmentation, we propose an Accurate and Efficient BP imaging algorithm suitable for GEO SAR applications. To validate its effectiveness, simulations were conducted using the parameters of a GEO SAR system. The results indicated that the proposed algorithm enhances the imaging quality of GEO SAR, reduces the processing time, and achieves high-precision rapid imaging, thereby improving operational efficiency.