The invention relates to a traveling wave fault positioning method suitable for a multi-type bus structure. The traveling wave fault positioning method comprises the following steps that a band-pass filtering device is connected to the bus structure on the line boundary in parallel, the reflection coefficient of traveling waves at the bus position is changed, and an ideal boundary effect is obtained; a line mode current component is taken based on line mode components; the fault current traveling waves are spread towards the two ends from the fault point along a line, the time when the fault point reflects the traveling waves and the time when the traveling waves reflected by a bus at the opposite end arrive are extracted through the maximum value of a wavelet multi-resolution analyzing model, and the distance between the fault point and the measuring end is obtained according to a formula. According to the traveling wave fault positioning method suitable for the multi-type bus structure, the ideal boundary effect is obtained by connecting the band-pass filtering device to the line boundary in parallel, the reflection coefficient of the traveling waves at the bus position is changed, a recognizing method suitable for single-end traveling wave fault point reflected waves of a distributing line is provided, and the fault point is positioned.