A modified ionospheric correction method and the corresponding approximate algorithm for spaceborne single-frequency Global Positioning System (GPS) users are proposed in this study. Single Layer Model (SLM) mapping function for spaceborne GPS was analyzed. SLM mapping functions at different altitudes were calculated. Ionospheric Pierce Point (IPP) trajectories of the dlft station (an IGS station located at the longitude of 4° 23′ 15.22′′E and the latitude of 51° 59′ 9.63′′N, in the TU Delft University, The Netherlands) and the GRACE satellite were computed with the corresponding single layer height of 350 and 500 km, respectively. The Klobuchar model was used to compute ionospheric delays for the dlft station, and modified Klobuchar model, together with scale factors, was used to compute the fractional ionospheric corrections above the GRACE altitudes. Calculation results were validated using dual-frequency observations. The study shows that the single layer height needs to be changed from 350 to 500 km according to the altitude of GRACE. Approximate forms of Earth angle and slant factor developed for modified Klobuchar model are applicable to GRACE, with accuracy adequate to preserve the essential elements required to compute ionospheric delays. Results show that the Klobuchar model is effective for ground GPS, and the modified Klobuchar model corrects more than 80% on average of the ionospheric delays for spaceborne single-frequency GPS.