This study investigates the visual servo control of the space station macro/micro manipulator system. The proposed approach is based on the position-based eye-in-hand visual servo (PBVS) and takes advantage of the hardware sensors to overcome the macro manipulator’s base flexibility and joint backlash. First, a vibration suppression approach based on the reaction force feedback control is proposed, the deflection forces are measured by the six-axis force/torque sensor at the base of the micro-manipulator, and damping is injected into the flexible base in the closed-loop control to suppress the base vibration. Second, the small changes of joint backlash are compensated based on the macro manipulator joint angles sensor and converted to the desired motion of the payloads. Finally, PBVS with the lag correction is proposed, which is adequate for the precise positioning of large payloads with significant low-frequency oscillations. Ground micro-gravity experiment implementation is discussed, simulations and experiments are carried out based on the equivalent 3-DOF flexible base manipulator system and the macro/micro manipulator ground facilities, and results demonstrate the effectiveness of the proposed control algorithm.