In the routine inspection process of railway catenary systems, the primary task is to find out the locations of various components accurately. The complex composition of the components in the catenary system and their large dimensional differences make the inspection of small components considerably difficult. Aiming at the problem of the difficulty in locating small components, a new locating method, named asymmetrically effective decoupled head-you only look once (AED-YOLO), for locating small components of the catenary has been proposed in this study. In this method, firstly, a small object detection layer has been added to improve the detection accuracy of the small-sized components such as fastener nuts and bracing wire. Secondly, to reduce missed and false detection errors of small components, the improved bidirectional feature pyramid network with high-order spatial interactions and recursive gated convolution has been used to fuse the features of different scales to further enhance the ability to detect small objects. Finally, an asymmetrically effective decoupled head has been proposed using different decoupled branches to decouple the classification and localization processes, thus further reducing the error in small-sized object classification and location. Experiments performed on the railway catenary dataset collected on-site show that the proposed localization method can efficiently improve detection accuracy, achieving a mean average precision of 93.5%. Thus, compared to the other methods, the proposed method can accurately locate small-sized components.