Based on investigations of the transmission characteristics of the traveling wave in power grid， a new traveling wave network protection method for power grid is presented. This paper uses all the arrival times of the first traveling wave recorded by each TWPR（traveling wave protection relays） to delete the null traveling wave arrival times in the whole transmission network after fault occurs on one line， and corrects part of the null first traveling wave arrival times so as to use the effective initial traveling wave arrival times to determine the fault lines. This method can not only solve the problem of the effect of line configuration on the traveling wave protection， but also operate reliably after a certain TWPR breaks down， start-up fails or the arrival time is wrongly recorded. Analysis and simulation results show that the principle of the protection method is feasible， simple to implement， of high reliability， and the protection method is helpful to further enhancing the practicability of traveling wave protection.