The invention relates to VR positioning and tracking technology field, in particular to an ultra-wideband positioning based VR positioning and tracking system and its positioning and tracking method. The system comprises three or more ultra-wideband positioning base stations, and is characterized by comprising VR basic equipment and a basic VR runtime. Each ultra-wideband positioning base station comprises a base station code ID generation unit, a time synchronization unit, a data processing unit, an ultra wideband (UWB) transceiver, a high accuracy clock, an antenna and a network data transmission unit. The VR basic device includes a display screen, a processor, a direction sensor, a VR and a controller connecting line, a battery, a lens and an ultra wide band (UWB) positioning module. The UWB positioning module comprises the antenna, the ultra-wideband (UWB) transceiver and the high accuracy clock. The basic VR runtime includes an image processing unit, a positioning engine and an image transmission unit. According to the invention, the problem of dizziness caused by the uncertain positioning of a VR device and the long-term use of the device can be well addressed.