In order to evaluate the tracking capability of optoelectric tracking for an orbital target, the limit magnitude detection performance calculation model and its calculation method are studied. Combining the optical signal characteristics of the tracked orbital target, the background, and the CCD noise, the framework of the limit magnitude calculation model of the system for dynamic target detection is constructed. The relationships between the limit magnitude and the signal-to-noise ratio threshold of the optical signal characteristics, the exposure time of the CCD camera, and the dark current of the CCD imaging are studied and analyzed while considering the sunlight illumination condition, so that the calculation function and its change curve are given. The limit magnitude detection capability of the system is verified by the simulated experiment and the synchronized tracking test, and the detection distance maximum error of the model calculation is 3.6 m. The results show that under certain illumination conditions, when the exposure time of the CCD camera is longer and the SNR threshold is lower, the limit magnitude detection performance of the system is better, and the tracking performance of the system is more stable.