With the development of space vehicle, telemetry system becomes dimension limited, while the design period of system has been shortened obviously and traditional telemetry system can hardly meet the demand. In order to solve these problems, a miniaturized and modularized telemetry system is designed and implemented. Based on the analysis of telemetry system, most of the telemetry functions have been realized in several modules. With these modules, one device called telemetry kernal device is implemented that makes telemetry system very small and light. In addition, high integration and adaption design makes telemetry system applied to other space vehicle easily. Recent tests show that this telemetry system is well applied to new space vehicle to acquire the flight test data. The prospect of this telemetry system can be attractive both in application and promotion.