With the continuous development of distributed generation, power quality problems are more complex. In order to ensure that the power quality of the active distribution network meets the requirements of users, it is of great significance to accurately obtain the power quality disturbance parameters. For the problem that the traditional empirical wavelet transform needs to manually select the number of frequency bands when analyzing unknown power quality disturbances, this paper proposes an improved empirical wavelet transform (IEWT) algorithm. The algorithm uses the Piecewise Cubic Hermite Interpolation (PCHIP) method and the improvement of the transition region to achieve adaptive frequency band division and noise interference reduction, and different amplitude (AM) and pitch (FM) components can be obtained. Then the Normalized Direct Quadrature (NDQ) algorithm and Singular Value Decomposition (SVD) algorithm are used to extract frequency, amplitude and time parameters of the AM-FM components. Simulation and experimental results show that the power quality disturbance parameters extracted by the proposed method are more accurate and less affected by noise.