The micro-motion is combined with the high velocity of translation motion for ballistic targets. The translation motion should be compensated for micro-Doppler information extraction. A new method based on delay conjugate multiplication is proposed to compensate the translation motion of ballistic target. By delay conjugate multiplication of the received signal, the micro-Doppler information are canceled out and the translation motion parameters estimation problem is transformed as an multi-polynomial phase signal parameters estimation problem. Thus, the translation parameters can be estimated. Simulation results suggest that the proposed algorithm can achieve high-precision compensation for ballistic targets under low SNR.