For extracting the nonlinear and chaotic features of aerial target, nonlinear time series analysis was considered for the target signal, and the first step was phase space reconstruction. Selection of the optimal delay time and embedding dimension parameters was the key based on Takens theorem. Mutual information method and correlation integral method were presented to get the two optimal parameters. Take typical chaotic signal and measured target noise data as study objects, simulation results show that the reconstructed phase space is accurate and effective based on the selected parameters from this method. It can response characteristics of the original chaotic system effectively, and makes a good preparation for the next study of nonlinear features extraction for target signal.