To improve the accuracy of disturbances detection and localization, a new approach based on Hyperbolic S-transform (HST) is constructed in this paper. After the modular matrix of power quality signal is calculated by the HST, the disturbance is detected and located by the sum of amplitudes of each sample point. The sum of amplitude is processed by threshold at first. Then, the points with the peak value are extracted for disturbances detection. The experimental results show that the new method realizes the accurate detection and localization of 7 types of disturbances including voltage sag, swell, interruption, pulse, spike, notch and transient. The simulation on ideal signals proves that the new method has the good adaptability and noise intensity. The extent of disturbances parameters has little impact on this proposed method. The method is very satisfied for disturbances location in real power system.