For a Global Positioning System (GPS) receiver, it is known that a Vector Delay Locked Loop (DLL) in which the code signals of each satellite are tracked in parallel by using navigation results shows better performance in the aspect of the tracking accuracy and the robustness than that of a Scalar DLL. However, the quantitative analysis and the logical grounds for that performance enhancement of the Vector DLL are not sufficient. This paper, therefore, proposes the structure of the GPS receiver with the Vector DLL and analyzes the performance of it. The tracking and the positioning accuracy of the Vector DLL are theoretically analyzed and confirmed by simulation results. From the simulation results, it can be seen that the tracking and positioning accuracy has been improved about 30% in case that the receiver is static and the positioning is conducted for every Pre-detection Integration Time (PIT) while C/N0 is 45 dB-Hz.