For a multi-vectored propeller aerostat with actuator faults, this study presents a fault-tolerant tracking control strategy, which includes fault modeling, observer, force estimation and tracking controller. Fault modeling considers the four types of faults of vectored propellers, namely, thrust offset, thrust efficiency loss, vectored angle offset and vectored angle stuck. Actuator faults can be determined from the fault observer, which identifies the thrust offset from the acceleration difference of the faulty aerostat with the ideal model. For tracking positions, a traditional PID controller is constructed with virtual control, compensated with the estimated fault force. The control allocation scheme is proposed to redistribute the available actuators in case faults occur. Simulation results of position tracking prove the effectiveness of the proposed strategy.