The invention discloses an ultrasonic ranging method, belonging to the technical field of electronic measurements. The ultrasonic ranging method comprises the following steps that: an ultrasonic transmitter and a pulse laser are located at a transmitting end, the transmitting end receives a measuring command, subsequently, the pulse laser triggers a beam of pulse laser and the ultrasonic transmitter triggers an ultrasonic wave at the same time, and phase locking is carried out on the triggered ultrasonic wave and an external clock source; an ultrasonic receiver and a photodiode are located at a receiving end, after the photodiode receives the pulse laser, a timer is started, after the ultrasonic receiver acquires the received ultrasonic wave, the timer is stopped to acquire transition time; the transition time multiplies by a revised sound velocity to acquire a rough measurement value of a measured distance; and a phase difference is obtained, a fine measurement part is lambda delta omega/2phi, and an actually measured distance d' is acquired, wherein d'=Nlambda+lambda delta omega/2phi. The ultrasonic ranging method has the advantages that the receiver is easily interfered by the transmitter, a measurement blind zone is greatly reduced, the ultrasonic distance measuring directivity is improved, the distance measuring precision is improved within one ultrasonic wavelength; and the ultrasonic ranging method is particularly suitable for distance measurement in a single station type space orientation and measurement system.