Aiming at the absolute and relative location service needs of low-altitude flight drones in complex electromagnetic environments, a three-dimensional distributed drone cooperative localization method based on high-precision ranging information is proposed. All nodes in the cluster are equipped with navigation positioning sensors with the same accuracy, and use the inertial error as a state variable, the height value of the altimeter as a height measurement and 0.1 Hz visual matching information as position and speed measurements to correct the absolute positioning error of the nodes. Use the ranging values of the nodes as cooperative measurements to correct the relative positioning error, and use the extended Kalman filter to fuse the measuring range and inertial/altimeter/vision system output. Construct the flight test scene of the 6-node drone group to complete the simulation verification of low-altitude flight scenes. Verified, through the cooperative positioning algorithm, the absolute position accuracy is improved by 61%, and the relative positioning accuracy increases by 93%, which proves the effectiveness of the cooperative localization method.