Aiming at the problems of strong nonlinearity, high dynamics and strong disturbance during the return process of reusable launch vehicles, this paper proposes a model prediction control method based on time-varying prediction model and disturbance observer. Firstly, the principles of predictive function control and disturbance observer are introduced. Then the time-varying prediction model is used to predict the state of the system to overcome the problem of high dynamics of the system; the disturbance observer is introduced to overcome the problem of strong disturbance of the system, the deviation between the real system and the prediction model is observed, and the compensation is made in real time at the input end. By solving the quadratic optimization problem, an explicit solution to the control input is obtained. Simulation results show that the control quality of the control method is very good and the method has strong robustness.