The performance of antitank guided missile systems is measured through the minimum missdistance and the capability of the missile to overcome target maneuver and different sources of errors and disturbance noises. The variety of new missiles with higher performance requirements impulse new problems in structure, effectiveness of control, cost, reliability...etc. One of the most interesting and challenging problem areas for antitank missile is that of the guidance and control. Therefore this paper consider an antitank guided missile system which belongs to the second generation for the design and analysis. Transfer functions representing the missile dynamics in pitch and yaw planes are derived to be considered for investigation. This investigation includes autopilot design and evaluating the system response such that the performance requirements are achieved. The control loop for both pitch and yaw channels of the intended guided missile system with compensation network are designed and investigated for each channel such that the system is stabilized and the performance requirements are satisfied. In addition, an inner loop design is carried out using free gyroscope for the yaw channel to improve its performance against target maneuver. To stay on the robustness of these compensators and their ability to withstand against disturbances, the measurements are corrupted with noise and the system performance is investigated. This investigation leads to the necessary modification or retuning the designed compensators for achieving the required robustness margin.