Aiming at the problem that the accuracy of ranging within UAV cluster networking system is limited by the time delay estimation of sampling period in time domain, this paper proposes a method of high precision ranging estimation by combining OFDM preamble sequence and pilot sequence. The maximum likelihood estimation and two-way ranging method are used to carry out weighted average of the estimated results of the sequence ranging. At the same time, the performance of joint ranging estimation method is analyzed by simulation. The simulation results show that the ranging accuracy of the joint estimation method can reach below 0.1 m when the typical values of the difference autocorrelation interval length of the preamble and pilot sequences are taken, and the centimeter-level ranging accuracy can be achieved at a low signal-to-noise ratio, which improves the stability of the ranging of the UAV cluster network.