Telephoto common optical path imaging components are widely used in photoelectric reconnaissance pods, and the technical development of telephoto common optical path fast mirrors for composite axis image stabilization has become an inevitable trend. This study introduced the main components of telephoto common optical path imaging components. We realized the composite axis control and flyback compensation control strategy based on a fast mirror and analyzed and calculated its working timing and key parameters. We developed a fast mirror based on a telephoto common optical path imaging device, and simultaneously realized secondary image stabilization and flyback compensation within one frame of the image. We improved the reconnaissance range, image stabilization accuracy, and the search effect of medium- and high-altitude photoelectric reconnaissance pods.