The invention provides a water supply pipeline leakage detecting and positioning method which is characterized in that a signal collected by a sensor is subjected to enhancement through spectral subtraction, the frequency spectrum variance of the signal after enhancement is calculated, a double-threshold method is adopted for judgment, that is, if the frequency spectrum variance is within the threshold range, which indicates that leakage occurs, the leakage point is positioned, a BP neural network is utilized to form a filter, a water leakage signal is separated from noise and subjected to generalized correlation analysis, time delay estimation is carried out according to the weight function with a good signal-to-noise ratio selectivity, three time delays of the sensor are acquired, and a water leakage positioning model is utilized for calculation to acquire water leakage point position information. According to the water supply pipeline leakage detecting and positioning method, the spectral subtraction method is adopted for signal enhancement, the double-threshold method is utilized for leakage judgment, if the frequency spectrum variance is within the threshold range, which indicates that leakage occurs, and therefore the accuracy is higher; besides, the non-leakage estimation method is adopted for estimation of the noise spectrum, the signal-to-noise ratio is increased more obviously, meanwhile the BP neural network is adopted for filtering, the generalized correlation time delay estimation accuracy is improved, and the water leakage point positioning accuracy is effectively improved.