Damage localization methods for composite materials are a popular research topic at present. The time-difference-blind localization method and beamforming localization method are often individually utilized in the localization of the acoustic emission sources of composite materials. Based on the performances of the two methods, a joint localization method for the acoustic emission sources of composite materials is proposed in this paper. Firstly, the performance of the time-difference-blind localization method and the beamforming localization method were analyzed. Then, with the advantages and disadvantages of these two methods in mind, a joint localization method was proposed. Finally, the performance of the joint localization method was verified using simulations and experiments. The results show that the joint localization method can reduce the localization time by half compared with the beamforming localization method. At the same time, compared with the time-difference-blind localization method, the localization accuracy can be improved.