A pointer positioning method for a handheld pointer device includes: capturing a first frame containing a reference point when the handheld pointer device updates a first tilt angle presently used to a second tilt angle; computing a first pointing coordinate according to the image position of the reference point in the first frame and the first tilt angle; computing a second pointing coordinate according to the image position of the reference point in the first frame and the second tilt angle; capturing a second frame containing the reference point to compute a third pointing coordinate according to the image position of the reference point in the second frame and the second tilt angle; generating a cursor parameter for controlling a display position of a cursor on a display apparatus according to the first pointing coordinate, the second pointing coordinate, and the third pointing coordinate.