Aiming at the problem of low precision of position calculation algorithm and low calculation efficiency in ranging-based wireless positioning technology, a co-location algorithm based on Chan and improved sparrow search algorithm is proposed. The algorithm first applies the Chan algorithm to the time of arrival (TOA) positioning model to estimate the initial value of the position, and then uses the SPM composite chaotic map initialization, golden-sine strategy, adaptive weight factor, Cauchy-t disturbance and ejection boundary processing to improve the sparrow search algorithm, which effectively improves the global search ability and convergence accuracy of the algorithm. Finally, the ISSA algorithm iterative calculation is performed on the initial position value to obtain the final position estimate. The simulation and experimental results show that the algorithm improves the accuracy and speed of wireless positioning.