To solve the problems of mode aliasing and large amount of calculation required in the traditional traveling wave detection method, a traveling wave ranging method based on complementary ensemble empirical mode decomposition (CEEMD) and novel Teager energy operator (NTEO) is proposed. In this method, a CEEMD algorithm is used to decompose the fault traveling wave signal and filter out the low-frequency component. Then the NTEO energy operator is used to perform differential operation on the decomposed signal to enhance the mutation characteristics of traveling wave head and realize the accurate calibration of the fault traveling wave head. Simulation results show that the proposed method can accurately calibrate the fault traveling wave head and has good denoising ability. Compared with existing methods, it offers better detection and smaller positioning error, and effectively improves the accuracy of traveling wave location in a distribution network. This work is supported by the Science and Technology Project of China Southern Grid Co., Ltd. (No. GDKJXM2 0198410).