The GPS tracking loop consists of three parts in general: discriminator, loop filter and DCO (Digitally Controlled Oscillator). The loop filter is the main part of the tracking loop designed to ensure a good tracking performance. Generally, the loop filter is designed using classical PI(Proportional Integral) control. Although the carrier Doppler and code Doppler are generated by the same relative movement between the satellite and the user, often, the loop filters for each tracking loop are designed separately and independently. Sometimes, they are used in a combined manner such as carrier aided code tracking, FLL assisted PLL, etc. For better GPS signal tracking, we need to design the FLL/PLL/DLL altogether optimally. The purpose of this paper is to design a GPS receiver tracking loop based on the Kalman filter in a combined manner. Also, the proposed GPS receiver tracking loop is compared with a conventional tracking loop in terms of the transfer function and the DCO input. This paper shows that conventional tracking loop is equal to the Kalman filter based tracking loop.