This paper focuses on the geopositioning capability and accuracy evaluation of highresolution satellite stereo imagery for highrise buildings in urban area.The experimental result shows that ground control points (GCPs) are needed in order to improve the geopositioning accuracy derived from the rational function model (RFM).The traditional geometric correction model in object space is effective when GCPs and independent check points (ICPs) are both on flat ground,but the computation error caused by elevation extrapolation appears when ICPs are on high building rooftops.A modified geometric correction model in object space is then proposed to eliminate the error introduced by huge elevation difference on high buildings.The result shows that a geopositioning accuracy of 0.6m in horizontal direction and 0.8m in vertical direction was achieved in Shanghai central district with high buildings involved,proving the effectiveness of this modified model.