AbstractSome key technologies of real‐time precise point positioning (PPP) are discussed in this paper and the mathematic model and method for estimating precise clock correction in real time is introduced. The real‐time observations obtained from GPS continuous operational reference stations are used to estimate the accurate real‐time satellite clock corrections. Comparison between the estimated satellite clock correction and final precise clock correction published by CODE indicates that RMS of the difference between each other is better than 0.2 ns. With the high accuracy real‐time clocks, real‐time PPP can be performed. The results show that the positioning accuracy of real‐time PPP is about 5 cm in horizontal and 10 cm in vertical after a short period of initialization, which can satisfy the requirement of real‐time user at this accuracy level. GPS observations from Wenchuan earthquake are also processed with the proposed method; the result shows that the surface coseismic displacement caused by the earthquake can be detected by real‐time PPP method.