The invention provides a double-end traveling wave fault positioning method of a power transmission line. The method comprises the following steps that: S1, one detection device for detecting travelling wave signals is installed on the power transmission line every 10-15 km; S2, a sensor module receives current and voltage signals in the circuit, a sampling system carries out sampling and recording on the current and voltage signals, an A/D conversion module processes the signals, and the data is transmitted to a main control center through a communication module; S3, after the main control center analyzes the received data and discovers a fault traveling wave signal, a second fault traveling wave signal in the detection device An adjacent to the detection device Am corresponding to the fault traveling wave signal is found, and analysis and calculation are carried out according to the fault traveling wave signal and the second fault traveling wave signal, the time for a first travelling wave head to respectively arrive at the detection devices Am and An is obtained; and S4, the position of a fault point is calculated. According to the invention, the fault position is accurately calibrated, and the precision is high.