The path planning and tracking problem of the multi-robot system (MRS) has always been a research hotspot and applied in various fields. In this article, a novel multi-robot path planning and tracking model (MPPTM) is proposed, which can carry out online path planning and tracking problem for multiple mobile robots. It considers many issues during this process, such as collision avoidance, and robot failure. The proposed approach consists of three parts: a neural dynamic path planner, a hyperbolic tangent path optimizer, and an error-driven path tracker. Assisted by Ultra-wideband positioning system, the proposed MPPTM is a low-cost solution for online path planning and high-accurate tracking of MRS in practical environments. In the proposed MPPTM, the proposed path planner has good time performance, and the proposed path optimizer improves tracking accuracy. The effectiveness, feasibility, and better performance of the proposed model are demonstrated by real experiments and comparative simulations.