The common mode error (CME) and optimal noise model are the two most important factors affecting the accuracy of time series in regional Global Navigation Satellite System (GNSS) networks. Removing the CME and selecting the optimal noise model can effectively improve the accuracy of GNSS coordinate time series. The CME, a major source of error, is related to the spatiotemporal distribution; hence, its detrimental effects on time series can be effectively reduced through spatial filtering. Independent component analysis (ICA) is used to filter the time series recorded by 79 GPS stations in Antarctica from 2010 to 2018. After removing stations exhibiting strong local effects using their spatial responses, the filtering results of residual time series derived from principal component analysis (PCA) and ICA are compared and analyzed. The Akaike information criterion (AIC) is then used to determine the optimal noise model of the GPS time series before and after ICA/PCA filtering. The results show that ICA is superior to PCA regarding both the filter results and the consistency of the optimal noise model. In terms of the filtering results, ICA can extract multisource error signals. After ICA filtering, the root mean square (RMS) values of the residual time series are reduced by 14.45%, 8.97%, and 13.27% in the east (E), north (N), and vertical (U) components, respectively, and the associated speed uncertainties are reduced by 13.50%, 8.06% and 11.82%, respectively. Furthermore, different GNSS time series in Antarctica have different optimal noise models with different noise characteristics in different components. The main noise models are the white noise plus flicker noise (WN+FN) and white noise plus power law noise (WN+PN) models. Additionally, the spectrum index of most PN is close to that of FN. Finally, there are more stations with consistent optimal noise models after ICA filtering than there are after PCA filtering.