The mass property of the three-axis air bearing table is unknown when simulating the attitude and orbital motion of a satellite. This paper builds a mathematical model for the identification of the quality characteristics of the three-axis air bearing table. An identification method for the quality characteristics of a three-axis air bearing table based on the simulated annealing algorithm (SA) is proposed. To improve the identification accuracy, a method for identifying the quality characteristics of a three-axis air bearing table based on the fading memory filter (FM) is proposed. The mass-property identification system uses flywheels as the excitation source of the three-axis air bearing and uses the inertial measurement unit (IMU) to measure the angular velocity. The results show that the moment of inertia identification error of the SA algorithm is about 3.48%, and it is capable of getting away from local optimum. The moment of inertia identification error based on the FM filter is less than 2% with faster convergence speed and higher identification accuracy.