To solve the location problem of the timefrequency sound signal of equipment fault under the high noise environment when using algorithm of GCC, the timefrequency subspace delay (TFSD) estimation algorithm which combine shorttime Fourier transform(STFT) domain and image analysis is proposed. The characteristics of noise and signal in STFT domain is used, meanwhile the correlation information of different microphone is considered, the principle signal subspace is formed using the method of filter or spectral subtraction to separate area of signal and noise subspace. Based on signal subspace, the signal in time domain is inversed, then the endpoint detection is undertaken, the delay is estimated and the sound source is located. The simulation results demonstrate that the time delay can be estimated accurately even the amplitude of additive noise is more than two times of signal, the estimation error of delay and location in area of 5 m×5 m, this results are proved by measurement.