An analytical design and parameters tuning approach of Internal Model Control-PID (IMC-PID) controller for an opto-electronic tracking system with time-delay is proposed in this paper. Firstly, a first-order delayed integrating (FODI) model for the system is built, and the model is approximated by a Second Order Plus Delay Time (SOPDT) mode. Then, the time-delay term in the model is replaced by the simple first-order Taylor expansion. So, the tuning rules of the controller parameters are founded. Especially, the single adjustable parameter λn of the IMC-PID controller can be calculated by choosing an appropriate maximum sensitivity to guarantee robustness of the system. The simulation results show that the proposed method could provide a better dynamic performance of both the command tracking and disturbance rejection, and have better robustness against parameters perturbation than conventional method. In addition, the experimental result demonstrates that the method could bring better tracking performance and higher accuracy than the PID control.