Synthetic aperture radar (SAR) obtains two-dimensional images of the Earth's surface. Spatial resolution is one of the most important factors in evaluating SAR performance. Therefore, high operating frequencies are preferred for obtaining high resolution images. In fact, Ku-band and Ka-band are used in the automobile SAR (Auto-SAR) and the aircraft SAR (Airborne-SAR). However, the operating frequencies of the satellite SAR (Spaceborne-SAR) are limited to the X-band because of the wide Doppler frequency band caused by the satellite's high velocity. To overcome this frequency limitation in satellite SAR, we propose a low-complexity SAR algorithm that forms images of the ocean using satellite altimeter data with an operating frequency of the Ku-band (13.575 GHz). The algorithm requires the burst mode pulse transmission technique frequently used in SAR altimeters. To validate the proposed algorithm as being suitable for ocean image formation, point target simulation and analysis are performed, and some quantitative results are provided.