In the recently published researches in the object localization field, 3D object localization takes the largest part of this research due to its importance in our daily life. 3D object localization has many applications such as collision avoidance, robotic guiding and vision and object surfaces topography modeling. This research study represents a novel localization algorithm and system design using a low-resolution 2D ultrasonic sensor array for 3D real-time object localization. A novel localization algorithm is developed and applied to the acquired data using the three sensors having the minimum calculated distances at each acquired sample, the algorithm was tested on objects at different locations in 3D space and validated with acceptable level of precision and accuracy. Polytope Faces Pursuit (PFP) algorithm was used for finding an approximate sparse solution to the object location from the measured three minimum distances. The proposed system successfully localizes the object at different positions with an error average of ±1.4 mm, ±1.8 mm, and ±3.7 mm in x-direction, y-direction, and z-direction, respectively, which are considered as low error rates.