The design concept of diesel engines for sea-going ships has been directed to Low-speed/Long-Stroke type to improve the efficiencies of combustion and propelling. But time-delay inevitable at low speed gives much difficulties for governors to control the engine speed because they would be apt to go into unstable region especially when operating at low speed. The purpose of this paper is to study the problem of how the governor gain can be calculated dynamically in accordance with the valiance of engine speed to locate the engine still on the properly stable condition. In this study, the property of diesel engine was described as composed of combustion element including dead time and rotating element, and the ultimate gain for the speed control system to be located on the condition of stability limit was proposed based on the frequency characteristics. And the target gains with optimized stability also were proposed by giving proper margin to these ultimate conditions. The results were applied to a model system and the availability was confirmed to be satisfactory.