The Global Position System (GPS), which is well known as a global tool for positioning, is also the primary system for time transfer. GPS can deliver very precise time to every corner of the world. Usually, a GPS receiver indicates the precise time by means of the 1PPS (one pulse per second) signal. This paper studies the precise time transfer system structure of GPS receivers and then proposes an effective PPS signal generation method with predictive synchronous loop, combining phase error prediction and dynamic threshold adjustment. A GPS time transfer system is implemented and measured in detail to demonstrate the validity of the proposed algorithm. Assuming the receiver clock rate of 16.368MHz, the proposed method can achieve the accuracy of ±20ns in the scope 1δ which can meet the requirements of the vast majority of occasions. Through a long period of testing, we prove the feasibility of this algorithm experimentally.