After a transmission line fails, quickly and accurately find the fault point and deal with it, which is of great significance to maintaining the normal operation of the power system. Aiming at the problems of low accuracy of traditional traveling wave fault location methods and many affected factors, this paper relies on distributed traveling wave monitoring points arranged on transmission lines to study methods to improve the accuracy of traveling wave fault location on transmission lines. First, when a line fails, a traveling wave signal that moves to both ends will be generated and transmitted along the transmission line. We use the Radon transform algorithm to process the traveling wave signal. Then, this paper uses ant colony algorithm to analyze and verify the location and extent of transmission line faults and then optimizes high-precision collection and processing. Finally, the simulation distance measurement is carried out on double-terminal transmission lines and multiterminal transmission lines (T-shaped lines) with branches. The results show that, for double-ended transmission lines, the algorithm increases the speed of matrix calculations and at the same time makes the fault location error of the transmission grid still maintain the improved effect.