Different pseudorandom codes are adapted in laser ranging system based on high modulation rate and photon counting technology. Ranging performance is compared and demonstrated between different pseudorandom codes and M sequence using fiber delay method of ranging experiments. Under the same incident condition, better signal of noise ratio and ranging accuracy are acquired when using M sequence. The actual ranging platform is established and ranging experiment outdoor is carried out. Ranging accuracy of 3.2 cm is obtained when the laser transmit to a target which distance is about 768.5 m under the condition of the transmitter peak power of 12.1 W, 10 order M pseudorandom sequence and 1 GHz modulation rate.