Abstract: Geometrical imaging models and calculations of orientation parameters are the main factors affecting the positioning of stereo Synthetic Aperture Radar (SAR) images. For accurate positioning with squint stereo SAR images and less Ground Control Points (GCPs), a positioning algorithm with one GCP is designed. In this algorithm, the position and velocity of the radar antenna phase center are derived using orbit parameters, and the close range and Doppler centroid of the SAR images are compensated by one GCP. Thus, accurate orientation parameters are obtained and accurate positioning with stereo SAR images is completed. Airborne SAR images acquired by the Chinese Academy of Surveying and Mapping are used in experiments. The positioning errors of the checkpoints are calculated and analyzed, and it verified the accuracy and effectiveness of the proposed method.