This paper presents the advantages of using a wideband spectrum adopting multi-carrier to improve targets localization within a simulated indoor environment using the Time of Arrival (TOA) technique. The study investigates the effect of using various spectrum bandwidths and a different number of carriers on localization accuracy. Also, the paper considers the influence of the transmitters’ positions in line-of-sight (LOS) and non-LOS propagation scenarios. It was found that the accuracy of the proposed method depends on the number of sub-carriers, the allocated bandwidth (BW), and the number of access points (AP). In the case of using large BW with a large number of subcarriers, the algorithm was effective to reduce localization errors compared to the conventional TOA technique. The performance degrades and becomes similar to the conventional TOA technique while using a small BW and a low number of subcarriers.