In order to improve the accuracy of lightning strike fault location and identification based on the distributed traveling wave monitoring system and lightning location system, the location algorithm and recognition algorithm are improved and integrated. The distributed traveling wave monitoring device is regarded as the lightning detection sub-station, and the calculation results of the lightning location system are corrected to get the accurate lightning flashover tower position. The lightning flashover voltage of the positioning tower is calculated based on the lightning current amplitude and the procedure method. After the lightning fault type is predetermined, the recognition calculation based on waveform feature extraction can be carried out. The actual lightning tripping fault and waveform were used to verify, the results show that the proposed method can effectively improve the accuracy of lightning strike fault location and identification.