Imaging, classification, and recognition techniques of ballistic targets in midcourse have always been the focus of research in the radar field for military applications. However, the high velocity translation of ballistic targets will subject range profile and Doppler to translation, slope, and fold, which are especially severe in the terahertz region. Therefore, a two-step translation compensation method based on envelope alignment is presented. The rough compensation is based on the traditional envelope alignment algorithm in inverse synthetic aperture radar imaging, and the fine compensation is supported by distance fitting. Then, a wideband imaging radar system with a carrier frequency of 0.32 THz is introduced, and an experiment on a precession missile model is carried out. After translation compensation with the method proposed in this paper, the range profile and the micro-Doppler distributions unaffected by translation are obtained, providing an important foundation for the high-resolution imaging and micro-Doppler extraction of the terahertz radar.