In order to solve the problems of having nonlinear observation equations and being susceptible to initial value of filtering in bearings-only target tracking, a range-parameterized hybrid coordinates Square Root Cubature Kalman Filter (SRCKF) algorithm was proposed. Firstly,it applied the SRCKF to hybrid coordinates,obtained better tracking effect than the SRCKF under Cartesian coordinates. And then it combined the range parameterization strategy with the SRCKF under hybrid coordinates, and eliminated the impact of unobservable range. The simulation results show that the proposed algorithm can significantly improve the accuracy and robustness although the computational complexity increases slightly.