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Selection of tracking algorithm is a critical aspect related to performance of video tracker. With the advancement in reconfigurable technology such as FPGAs, it is possible to analyse algorithms on hardware platform for real time implementation. A centroid based tracker has been developed using standard CCIR-B video from either CCD or IR camera. In the present work scheme for implementation of centroid tracker and VLSI architecture for various types of centroid based tracking algorithms has been analyzed. Xilinx FPGA has been used as a target device for performance evaluation of various centroid tracking algorithms and comparison of resource & timing requirements associated with these algorithms have been done.