The gyroscope is an important component for line-of-sight stabilization in electro-optical system. A redundant installation method of fiber optic gyroscope based on the electro-optical system was introduced. Under the premise that the number of redundant-installed gyroscope was determined, considering the installation space, volume, weight and cost of practical application of engineering, the redundant installation method of octagonal pyramid for 4 gyroscopes was designed. The precision and reliability of this redundant installation method were analyzed and simulated, and compared with the non-redundancy installation. This installation method could be used for redundant installation of gyroscope and magnetohydrodynamics angular rate sensor. The experimental results show that the standard deviation of noise is decreased about 25.3% and the reliability is improved about 1.75 times, which effectively solves the problem of insufficient gyroscope accuracy due to the limitation of installation space in an electro-optical system and improves the reliability. Meanwhile, the proposed method can be applied in the triaxial gyroscope stabilized electro-optical system, which has a certain guiding role for engineering application.