Nowadays, some kinds of the photoelectric stable platforms have applied the digital controllers. In the course of designing the digital controllers, designers usually depended on the personal experience or the rough mathematical models. As a result, designers spent a long time regulating the control parameters in order to obtain better control performance. Therefore, it is very important and necessary to establish the precise mathematical model for the photoelectric stable platform system before designing the digital controller for it. In the paper, firstly, using principle analyzing method establishes the common analog mathematical model for it. And then, the parameter estimation methods of the parameters to be determined are discussed from two aspects of the time domain and the frequency domain. These lay a good foundation for implementing the effective digital controller designing for the photoelectric stable platform system.