Embodiments of the present invention disclose a Wi-Fi ranging method including: receiving, by a target node, a first NDP sent by a reference node and recording a first NDP receiving time of receiving the first NDP, and sending a second NDP to the reference node and recording a second NDP sending time of sending the second NDP; receiving, by the target node, a ranging response frame sent by the reference node, where the ranging response frame includes a first NDP sending time at which the reference node sends the first NDP and a second NDP receiving time at which the reference node receives the second NDP; and calculating, by the target node, a distance between the target node and the reference node based on the first NDP receiving time, the second NDP sending time, the first NDP sending time, and the second NDP receiving time.