The invention discloses a pigeon-racing-based pigeon real-time positioning system, which comprises a server, at least one positioner with a code and a display terminal, wherein the server is provided with a geographical information identification module and a database, which are in communication connection; the at least one positioner is in communication connection with the server respectively; the display terminal is in communication connection with the server, and is used for displaying and parameter setting; each positioner is arranged on a pigeon through a fixing device; the fixing device comprises a fixing part and a loading part, the fixing part is shaped into a ring for elastic sleeving connection, the loading part comprises a bag for elastically accommodating the positioner and an overturning cover arranged on the bag in a rotating covering manner, and one side, far away from rotating opening of the overturning cover, of the bag is fixedly arranged on the outer side of the ring of the fixing part. According to the pigeon-racing-based pigeon real-time positioning system, the ring-shaped fixing part elastically connected to the pigeon in a sleeving manner and the loading part for elastically accommodating the positioner are adopted, so that the system is applied to sleeving connection of pigeons with different sizes and fixation of positioners with different sizes, and the dropping rate is low.