To address the failure of existing satellite video stabilization algorithms in no?control?point scenarios, a satellite video stabilization algorithm based on multiple moving targets is proposed. This algorithm constructs a framework that integrates target detection, trajectory smoothing, and norm optimization by combining multi?target Kalman filtering, rlowess trajectory smoothing, and L1?L2 norm optimization, ultimately achieving satellite video stabilization. Experiments were conducted using a maritime multi?target ship observation dataset. The results validate the effectiveness of the algo? rithm, showing that the stabilization error of the proposed algorithm can be controlled within 0.3 pixels in both the X and Y directions. This study fills the technical gap in satellite video stabilization in no?control?point scenarios and has broad and significant engineering application value.