In this study, a low-cost, small-volume, and high-precision system for detecting the object fracture location based on the Time-of-Flight (ToF) was proposed. Furthermore, ToF has been used in fiber ranging compared with traditional ToF applications. The basic principles of ToF and optical fiber end reflection were introduced, after which the experimental results and errors under different working conditions were examined and a weighted average algorithm to improve the accuracy of the system were proposed. The system measured total distance with an accuracy of better than 5 mm and a standard deviation of 2.04 mm using a weighted average reliability estimate. Ultimately, two system improvement schemes were proposed, providing new design ideas for the structural fracture detection system design of space vehicles such as aircraft and missiles.