A new network-based algorithm for transmission line fault location with the traveling wave is proposed.The proximal point optimization strategy algorithm is used to find the shortest transmission path of the faulty traveling wave.The length of the shortest path is directly proportional to the transmission time.The linear fitting between the arriving time of the traveling wave head recorded by each substation and the transmission distance is made on the Cartesian coordinate plane.The information fusion for the traveling wave arriving time at each substation is achieved by linear regression analysis，and then the accurate location is obtained direct.The simulation results show that this method can effectively reduce the recording error in the arriving time of the faulty traveling wave at each substation while improving the reliability and accuracy of fault location.