The invention discloses a method for carrying out panoramic positioning and orientation by utilizing a mobile phone device sensor. The method comprises the following steps: collecting a rotation angles, on three axles of an equipment coordinate system, of a mobile phone body relative to an own initial position through a gyroscope built in a mobile phone, and acquiring data through a direction sensor built in the mobile phone so as to obtain direction data, in a word coordinate system, of the mobile phone body, and weighting and fusing the rotation angles and the direction data to carry out correction; generating corresponding textures according to the corrected visual direction data, rendering and displaying the corresponding textures to the inner surface of a VR ball model, putting a camera model at the center of the ball mode, taking the camera model as a human eyeball, taking the inner surface of the VR ball model as a display screen, and synchronously changing the camera orientation according to correction direction of mobile equipment. According to the method disclosed in the invention, the problem of mobile phone gyroscope drifting is solved, the problem of upside-down rotation of virtual VR world is solved, furthermore, the orientation of equipment can be smoothly and accurately positioned, and an immersion type impression effect of panoramic videos can be obtained.