An improved olecranon fracture repair device and system. The device includes standoffs to minimize compression of a patient's triceps muscle and tendon. A buttress plate curved to approximate the olecranon process radius accepts a plurality of fixation screws is sized such that the distal end of the plate extends forward of the triceps tendon fibro-osseous junction. The system includes an installation tool having a positioning plate with a moveable member. The positioning plate serves as a stabilizing device, a medullary cavity penetration drill template, and a fixture for guiding the intramedullary rods into the cavities. The moveable member allows for removal of the tool following partial insertion of the repair device intramedullary rods.