Space debris has been posing a serious threat to human space activities and is needed to be measured and cataloged. As a new technology of space target surveillance, the measurement accuracy of DRLR (Diffuse Reflection Laser Ranging) is much higher than that of microwave radar and electro-optical measurement. Based on laser ranging data of space debris from DRLR system collected at SHAO (Shanghai Astronomical Observatory) in March-April 2013, the characteristics and precision of the laser ranging data are analyzed and its applications in OD (Orbit Determination) of space debris are discussed in this paper, which is implemented for the first time in China. The experiment indicates that the precision of laser ranging data can reach 39cm-228cm. When the data is sufficient enough (4 arcs of 3 days), the orbit accuracy of space debris can be up to 50m.