Global positioning system (GPS) has found applications in various areas including marine geodesy. GPS positioning accuracy, however, is greatly degraded by GPS ephemeris and clock errors, particularly errors due to Selective Availability (SA). Thus, it is crucial to use precise ephemeris and clock corrections for users who require high position accuracy. Presently, precise ephemeris and clock corrections are available only in post‐mission. This paper investigates the generation of precise real‐time ephemeris and clock corrections and the positioning accuracy using them. In this research, precise real‐time ephemeris is generated from accurate dynamic orbit prediction and clock corrections are calculated using instantaneous GPS measurements. Numerical analysis using data from an actual GPS tracking network is performed that indicates use of precise ephemeris and clock corrections can improve the positioning accuracy to the one meter level. This accuracy is attainable in real‐time as the precise real‐time ephemeris and clock corrections become available in the future.