The space object common-view observation by two photoelectric telescopes can locate the space objects, and can solve the problem of initial orbit determination of the short-arc angle measurement data of the photoelectric telescope. However, its positioning accuracy is related to the observation geometry between the space objects and two photoelectric telescopes. First, the positioning error of space object common-view observation is analyzed, and then the analytical expression of root mean square error is derived. Finally, the simulated common-view observation data are generated based on Changchun and Shanghai Sheshan stations,combined with CPF (Consolidated Prediction Format) ephemeris of low-orbit laser stars with different orbital heights, which are used to analyze the positioning and orbit determination accuracy of space object common-view observation. The results show that the positioning accuracy of the two optoelectronic telescopes for low-orbit space objects can reach 100 m, and the positioning data is used to determine the initial orbit, the semi-major axis error of the orbit is less than 10 km.