The integrated energy microgrid (IEM) has good potential for both active and reactive power regulation, which are gradually becoming critical resources for participating in power system ancillary services. This paper constructs a distributed optimization model for the IEMs participating in voltage regulation ancillary services by considering multiple physical network constraints. To reduce computational complexity, the DistFlow power flow model and the second‐order cone relaxation method are introduced to transform the optimization model into a second‐order cone programming problem. Moreover, an improved accelerated consensus alternating direction method of multipliers algorithm is proposed to accelerate distributed optimization solutions of the model while protecting user privacy. Finally, the proposed optimization model and solution method are tested in the modified IEEE‐33 node test case to verify their effectiveness and feasibility.