Precise Point Positioning (PPP) with GPS measurements has achieved a level of success. In order to benefit from the multiple available constellations, research has been undertaken to combineGPS and BDS measurements in PPP processing.Mathematical models of GPS/BDS combined precise point positioning are introduced in this paper. GPS/BDS combined PPP models are developed based on the GPS-only PPP. The data pre-processing steps include applying satellite orbit and clock corrections, satellite antenna phase offset correction, receiver antenna phase offset correction, differential code bias corrections, troposphere delay corrections and the the Ionosphere-free observation combination is used. The results show that the positioning precision and convergence speed of GPS/BDS combined PPP are improved compared with GPS-only PPP.