In order to realize real-time multi-target localization with high accuracy, a target localization method based on total least squares method is proposed. The nonlinear multi-point target localization model is linearized, the extended matrix of coefficient matrix and observing vector is built, and the localization result is calculated by using singular value decomposition theory. Then, the affine transform model method is adopted to realize multi-target localization, and the accurate localization information is obtained by adjustment calculation.Flight experiments show that, the proposed approach can improve the localization accuracy and realize the real-time multi-target localization. This approach is easy to implement, has high reliability and considerable application prospect.