New synchronization algorithm and analysis of its convergence rate for clock oscillators in dynamical network with time-delays are presented. A network of nodes equipped with hardware clock oscillators with bounded drift is considered. Firstly, a dynamic synchronization algorithm based on consensus control strategy, namely fast averaging synchronization algorithm (FASA), is presented to find the solutions to the synchronization problem. By FASA, each node computes the logical clock value based on its value of hardware clock and closely as possible. Secondly, the convergence rate of FASA is analyzed that proves it is related to the bound by a nondecreasing function of the uncertainty by means of the robust optimal design. Meanwhile, several practical applications for FASA, especially the application to inverse global positioning system (IGPS) base station network are discussed. Finally, numerical simulation results demonstrate the correctness and efficiency of the proposed FASA. Compared FASA with traditional clock synchronization algorithms (CSAs), the convergence rate of the proposed algorithm converges faster than that of the CSAs evidently.