Accurate location information can offer huge commercial and social value and has become a key research topic. Acoustic-based positioning has high positioning accuracy, although some anomalies that affect the positioning performance arise. Inertia-assisted positioning has excellent autonomous characteristics, but its localization errors accumulate over time. To address these issues, we propose a novel positioning navigation system that integrates acoustic estimation and dead reckoning with a novel step-length model. First, the features that include acceleration peak-to-valley amplitude difference, walk frequency, variance of acceleration, mean acceleration, peak median, and valley median are extracted from the collected motion data. The previous three steps and the maximum and minimum values of the acceleration measurement at the current step are extracted to predict step length. Then, the LASSO regularization spatial constraint under the extracted features optimizes and solves for the accurate step length. The acoustic estimation is determined by a hybrid CHAN–Taylor algorithm. Finally, the location is determined using an extended Kalman filter (EKF) merged with the improved pedestrian dead reckoning (PDR) estimation and acoustic estimation. We conducted some comparative experiments in two different scenarios using two heterogeneous devices. The experimental results show that the proposed fusion positioning navigation method achieves 8~56.28 cm localization accuracy. The proposed method can significantly migrate the cumulative error of PDR and high-robustness localization under different experimental conditions.