The invention provides a real-time linkage failure positioning method of power communication and power distribution terminals. The method comprises the steps of building an alarm mapping code table of communication standard alarms of a communication access network terminal of a power terminal and business standard alarms of a power distribution business terminal; acquiring communication alarms of the communication access network terminal of the power terminal and business alarms of the power distribution business terminal in real time, and converting the acquired communication alarms and business alarms into communication standard alarms and business standard alarms in the alarm mapping code table through alarm standard conversion; and matching and analyzing the communication standard alarms and business standard alarms undergone alarm standard conversion by using a failure boundary determining rule so as to determine a failure boundary. The real-time linkage failure positioning method can perform standard conversion on both the alarms of terminal communication access network devices of different manufactures and communication alarms of the power distribution terminal, and can carry out auto matching and linkage analysis, so as to determine the failure boundary of the communication failure of the business terminal quickly.