With the increasing constellation plan of low-orbit satellite networking, the demand for high-precision time calibration and ranging between satellites is becoming more and more urgent. This paper proposes the implementation of IM/DD to balance the ranging accuracy and system cost. Distance measurement of high precision pulse of time based on IM/DD is used to measure the distance. It employs the data transmission method of direct modulation and direct detection optical communication, inserts a small amount of ranging information into the normal data frame transmission, without interrupting the normal communication mode, and without the need to synchronize the frequency of the network clock, and the transmission period of the data frame has no need to be related to the second pulse. Keeping the synchronization relationship, the two-way one-way ranging method can be used for ranging. It uses the second pulse to measure the frequency of the local clock and correct the parameters of the ranging process. It only needs to use the ordinary crystal oscillator as the local clock source, and does not need to use the full network synchronization clock signal or high stability usually required for high-precision ranging. The clock source can achieve the ranging accuracy and precision of the time level of the direct adjustment and direct detection of the communication symbol, and at the same time reduce the complexity of the time-frequency synchronization system, the requirements for components and the cost of the entire communication ranging system. The problem in the prior part that ranging accuracy and system cost are not easy to be taken into account at the same time is solved.