Assigning an eye task with visual stimulation and tracking the eye movement is a channel to acquire the examinees’ psychological behaviors, which plays a critical part in the fields of psychological research. In this study, an eye-tracking system based on FPGA hardware and projection algorithm is proposed. It captures video via LUPA300 high-speed CMOS and obtains the motion of eye pupil and bright spot through the continuous video frames by using a FPGA implemented a projection algorithm. To obtain a reliable tracking accuracy, a binarization and mathematical morphology operation (corrosion and expansion) are adopted as a pre-procession step. The results show that FPGA can implement projection algorithm to track eye motion at high speed, the binarization and corrosion expansion pretreatment can improve the tracking accuracy effectively. The system is easy to achieve the real time tracking, and provides an new method for eye movement tracking at high speed.