Hyperbolic-frequency-modulated (HFM) waveforms offer detection performance that is "Doppler insensitive"-relatively unaffected by target range rate in matched filtering. They have been applied in radar; but more they are particularly useful in sonar where the wideband Doppler insensitivity is especially prized. However, Doppler insensitivity does come hand in hand with a range bias, which would significantly degrade the tracking performance. In this paper, we model the range bias as a function of range rate and system parameters, and then utilize that to calibrate the measurement equation in very precise target tracking. By doing so, the tracking performance can be improved, particularly for fast maneuvering targets.