Range accuracy and efficiency are two important indicators for Frequency modulated continuous wave (FM/CW) laser radar, improving the accuracy and efficiency of extracting beat frequency are key factors for them. Multiple Modulation Zoom Spectrum Analysis (ZFFT) and the Chirp-Z Transform (CZT) are two widely used methods for improving frequency estimation. The paper through analyze advantages and disadvantages of these methods, proposes a high accuracy and fast signal processing method which is ZFFT-CZT, it combines advantages that ZFFT can reduce data size, and CZT can zoom in frequency of any interested band. The processing of ZFFT-CZT is following: firstly ZFFT is conducted by conducting Fourier transform on short time signal to calculate amount of frequency shift, and transforming high-frequency signal into low-frequency signal of long time sampling, then CZT is conducted by choosing any interested band to continue subdividing the spectral peaks, which can reduce picket fence effect. By simulate experiment based on ZFFT-CZT method, two closed targets at distance of 50m and 50.001m are measured, and the measurement errors are 40μm and 34μm respectively. It proved that ZFFT-CZT has a small amount of calculation, which can meet the requirement of high precision frequency extraction.