In order to realize the space camera which on satellite optical axis pointing precision measurement, a monocular vision measurement system based on object-image conjugate is established. In this system the algorithms such as object-image conjugate vision models and point by point calibration method are applied and have been verified. First, the space camera axis controller projects a laser beam to the standard screen for simulating the space camera’s optical axis. The laser beam form a target point and has been captured by monocular vision camera. Then the two-dimensional coordinates of the target points on the screen are calculated by a new vision measurement model which based on a looking-up and matching table, the table has been generated by object-image conjugate algorithm through point by point calibration. Finally, compare the calculation of coordinates offered by measurement system with the theory of coordinate offered by optical axis controller, the optical axis pointing precision can be evaluated. Experimental results indicate that the absolute precision of measurement system up to 0.15mm in 2m×2m FOV. This measurement system overcome the nonlinear distortion near the edge of the FOV and can meet the requirement of space camera’s optical axis high precision measurement and evaluation.