The invention discloses a method and a system of locating a beacon by using phases. The system comprises the beacon and a receiver. The beacon comprises a radio station used for transmitting radio wave signals, a controller used for controlling the working of the radio station, and a power supply management module used to supply the controller and the radio station with power. Whether the radio station is electrified by the power supply management module is controlled by the controller. The receiver comprises more than three antennas, a signal source used for transmitting fixed-frequency signals S, a mixer used for the mixing processing of the radio wave signals and the fixed-frequency signals S received by the antennas, a low pass filter used for the filtering processing of the signals after the mixing processing, and a measuring chip used for measuring time differences. The system provided by the invention is advantageous in that only the radio station is required, and no GPS modules are required, and the radio station is only required to be switched on for a little while (smaller than 0.1s) during the use, and is used to transmit the small segment of the radio wave signals, and therefore power consumption is small; only the radio station is required, and no GPS modules are required, and therefore only one antenna is required, and the size of the system is reduced.