In this article, an improved game theory-based co-localization algorithm is proposed to precisely and cooperatively locate the multi-robot system in the wireless sensor network and efficiently eliminate the information conflict caused by multi-sensor. Specifically, the extended Kalman filter in the original algorithm is replaced by the unscented Kalman filter in the optimized algorithm, which contributes to lower linearization errors and higher localization precision. Then, the computational complexity is analyzed, and the derivative method is introduced to reduce the extra computation burden brought by the unscented Kalman filter. Subsequently, the stability issue resulting from the derivative method is addressed by introducing the singular value decomposition (SVD). In this context, the optimized algorithm is capable of precisely locating the multi-robot system, while maintaining the stability and not increasing the computational burden. Moreover, as demonstrated by the simulation results, the optimized algorithm has greater localization precision than the original algorithm, while they have similar computational burdens.