The distribution network exhibits complex structural characteristics, which makes fault localization a challenging task. Especially when a branch of the multi-branch distribution network fails, the traditional multi-branch fault location algorithm makes it difficult to meet the demands of high-precision fault localization in the multi-branch distribution network system. In this paper, the multi-branch mainline is decomposed into single branch lines, transforming the complex multi-branch fault location problem into a double-ended fault location problem. Based on the different transmission characteristics of the fault-traveling wave in fault lines and non-fault lines, the endpoint reference time difference matrix S and the fault time difference matrix G were established. The time variation rule of the fault-traveling wave arriving at each endpoint before and after a fault was comprehensively utilized. To realize the fault segment location, the least square method was introduced. It was used to find the first-order fitting relation that satisfies the matching relationship between the corresponding row vector and the first-order function in the two matrices, to realize the fault segment location. Then, the time difference matrix is used to determine the traveling wave velocity, which, combined with the double-ended traveling wave location, enables accurate fault location.