In this paper we reconsider the formulae of tropospheric refraction correction for the Satellite Laser Range technique. From the expansion of the complementary error function, a new continued fraction form of the mapping function at optical frequencies is derived. The correction terms related to the operation frequency of the laser beam are considered in both the zenith delay and the mapping function. The correction for low-elevation satellites is briefly reviewed. The theoretical accuracy of the new mapping function has been analysed via the ray tracing integrals under the standard atmospheric profile. With respect to the radiosonde data, the deviations of the new mapping function are investigated in an elevation range down to near 1°, which is comparable with the results of the Marini–Murray formulae.