The Cramer–Rao lower bound on range error is modeled for pseudo-random ranging systems using Geiger-mode avalanche photodiodes. The theoretical results are shown to agree with the Monte Carlo simulation, satisfying boundary evaluations. Experimental tests prove that range errors caused by the fluctuation of the number of photon counts in the laser echo pulse leads to the range drift of the time point spread function. The function relationship between the range error and the photon counting ratio is determined by using numerical fitting. Range errors due to a different echo energy is calibrated so that the corrected range root mean square error is improved to 1 cm.