The invention provides an improved power transmission line lightning stroke double-end traveling wave positioning method, and relates to an overhead transmission line lightning stroke fault positioning calculation method. A computer is utilized, through program, the lightning stroke fault point position on an overhead transmission line is determined through setting monitoring points, extracting current line model components, extracting the first wave head reaching time, determining the overhead transmission line lightning stroke interval and reflecting wave sources, extending the reflecting wave head reaching time and carrying out lightning stroke point positioning calculation according to different lightning stroke intervals. The method provided by the invention has the characteristics that simplicity and feasibility are realized, the positioning precision is high, the positioning efficiency is high, the practicability is high, the lightning stroke fault points on the overhead transmission line can be fast and accurately judged, the popularization and the application are convenient, and the like. The method provided by the invention can be widely applied to the lightning positioning calculation of the overhead transmission line, and is particularly suitable for the lightning positioning calculation of the high-voltage overhead transmission line with the voltage being 110kV and higher.