Joint Waveform inversion (JWI) uses the results of reflection waveform inversion (RWI) as the initial model for full waveform inversion (FWI). Compared with the FWI, the JWI method can obtain more information about the structure of the subsurface medium. The reason is that the reflected waveform inversion can invert the long wavelength component in the middle and deep areas. In JWI, reflected waveform inversion is used to obtain the reflected wave information in the simulation record by demigration, which is computationally more expensive than FWI; the least squares reverse time migration (LSRTM) also obtains the reflected wave information in the simulated record by demigration. In order to effectively use the reflected wave information brought by the high computational amount of reverse migration in JWI, this paper proposes a simultaneous inversion method of JWI and LSRTM (JWI-LSRTM). This method can simultaneously perform an iterative update of the subsurface medium velocity of JWI and the migration imaging of LSRTM, which improves the calculation data utilization rate of each forward and inversion process. In the model test, the effectiveness of the method is proved.