Based on the function demand of the anti-tank missile TV guidance,the hardware of the image processing system,including a video signal pre-process module,a background subtraction circuit,a digital image processing module and other auxiliary modules,is designed.And all the functions of these modules are introduced.The software of the image processing system,including functions like image pre-process,image segmentation,target recognizing and tracking,is also designed.And especially expounded is the multimode threshold image segmentation algorithm and the image target recognizing &tracking algorithm.The experiment result shows the system that we designed can recognize and track anti-tank missile reliably.