This article presents an approach to the selection of the Series Compensation (SC) parameters for a Rotor Vibratory Gyroscope in closed loop operation (RVG), to meet the necessary quality of dynamical and statical characteristics of such a gyroscope output. The proposed approach is based on a mathematical model of a RVG as a two axis control system with modulation. The analysis of this model allows us to reveal some peculiarities of the system, for instance, the effect of “limited quality factor.” The influence of these observed peculiarities on the dynamical and statical characteristics of a RVG are studied and reflected in the proposed approach. Finally, the selection of the SC parameters is illustrated with a commercially available RVG.