The precisely located earthquake catalogue is important to seismicity, seismic tomography and crustal stress inversion studies. It also has great application value in rapid report of an earthquake that just occurred. By considering the arrival time uncertainty, and the constraints on station elevation and seismic depth, we propose a relatively accurate method to estimate hypocentral location and its uncertainty based on inversion theory. Our method can combine the arrival times of Pg wave, Sg wave, Pn wave and Sn wave in hypocenter location, so it increases the location accuracy by involving more data; and it can be also used in local and regional earthquake location simultaneously. In order to test our location method, we located earthquakes by using the simulated data with different uncertainty of Pg,Sg,Pn,Sn arrivals. The result shows that the location determined by using our method is more accurate than that by using other method. We apply it to earthquakes occurring in the period from 2001 to 2008 in Sichuan area, and obtained a more clustered hypocentral distribution convergent to the fault zones. The result provides a solid foundation for studies of seismicity, geometry of the active faults and seismic tomography in Sichuan region. It is also helpful to study the seismicity precursors before the Wenchuan earthquake.