Abstract: The present invention relates to a telemeter and to a method of determining the distance separating two points. The method comprises the steps consisting in (a) comparing the phase (.phi.) of the modulation of an emission signal and of a received returned modulated signal (16), (b) in generating a signal representative of the value of the instantaneous variance (V(.phi..sub.i)) of the phase samples (.phi..sub.i) (107), (c) in generating an estimation of the phase on the basis of a signal derived from the average (.phi..sub.E) of n phase samples (.phi..sub.i) which have been weighted by their instantaneous variance, (d) in generating a signal representative of the value of the distance (D) on the basis of the estimated phase value (.phi..sub.E), and (e) in displaying said value of the distance.