Target closing-velocity is an essential information for the implementation of the proportional navigation although only LOS rate measurements are available from gyroscopically-stabilized passive infrared seekers. In most applications, target closing-velocity is empirically approximated instead of being estimated in real time.In this paper, a new estimation technique of target closing-velocity for passive homing missiles is proposed. This technique utilizes some characteristics of the proportional navigation law and only LOS rate measurements are required for the estimator. The Lyapunov method is used to analyze the stability of the estimator algorithms. Computer simulations are also conducted to investigate the effects of guidance delay and target acceleration on estimation accuracy.