The invention relates to a well and ground integrated microseismic positioning method comprising the following steps of step 1, inputting microseismic data of well and ground integrated monitoring, velocity models for both vertical and horizontal waves, and initialization parameters to the system; step 2, identifying and matching well and ground integrated microseismic events; step 3, performing travel time pickup on P and S waves of the well and ground microseismic events; step 4, performing well and ground integrated microseismic travel time positioning; and step 5, outputting positioning results of the microseismic events. The well and ground integrated microseismic positioning method provided by the invention combines the travel time information of borehole surface microseismic P and Swaves, performs weight fusion on the number of detectors with different borehole and surface data, travel time accuracy and positioning advantages, and is conducive to improving the microseismic positioning accuracy. In the method provided by the invention, the influence on parameters at the seismic time is eliminated from the well and ground integrated positioning equation and the stability of the positioning method is improved.