In this paper, an absolute optical transfer delay measurement method based on pulse time signal, pseudo-random code phase, and microwave phase is proposed. By employing two-stage integer ambiguity resolution, not only can a measurement range of several hundred kilometers be achieved, but sub-picosecond level measurement accuracy can also be attained. A test system was built in the laboratory and experimentally verified on a fiber optic link. The experimental results verify an accuracy of ±0.1 ps in measuring an ultrahigh-accuracy optical delay line. In addition, long fiber is also tested, which proves that a measurement range of at least 100 km can be achieved. The refresh rate of the measurement results can reach 100 ms each time.