Haiyang-2D (HY-2D) is the fourth satellite in the marine dynamic satellite series established by China. It was successfully launched on 19 May 2021, marking the era of the 3-satellite network in the marine dynamic environment satellite series of China. The satellite’s precision orbit determination (POD) and validations are of great significance for ocean warning and marine altimetry missions. HY-2D is equipped with a laser reflector array (LRA), a satellite-borne Doppler Orbitography and Radiopositioning Integrated by Satellite (DORIS) receiver, and a satellite-borne dual-frequency GPS receiver named HY2 that was independently developed in China. In this paper, the quality of GPS data collected by the HY2 is analyzed based on indicators such as the multipath effect, cycle slips, and data completeness. The results suggest that the receiver can be used in POD missions involving low-Earth-orbit (LEO) satellites. The precise orbits of HY-2D are determined by the reduced-dynamics (RD) method. Apart from POD, validation of orbit accuracy is another important task for LEO POD. Therefore, two external validation methods are proposed, including carrier differential validation using one GPS satellite and inter-satellite differential validation using two GPS satellites. These are based on space-borne carrier-phase data, and the GPS satellites used for POD validation do not participate in orbit determination. The results of SLR range validation cannot illustrate the orbit accuracy in x, y, and z directions particularly, so to make validation results more intuitive, the SLR three-dimensional (3D) validation is proposed based on SLR range validation, and the RMSs in x, y, and z directions are 2.66, 3.32, and 2.69 cm, respectively. The results of SLR 3D validation are the same as those of SLR range validation, which proves that the new external validation method provided by SLR 3D is reliable. The RMSs of carrier differential validation and inter-satellite differential validation are 0.68 and 1.06 cm, respectively. The proposed validation methods are proved to be reliable.