As an important branch in the field of affective computing, emotion recognition based on electroencephalography (EEG) faces a long-standing challenge due to individual diversities. To conquer this challenge, domain adaptation (DA) or domain generalization (i.e., DA without target domain in the training stage) techniques have been introduced into EEG-based emotion recognition to eliminate the distribution discrepancy between different subjects. The preceding DA or domain generalization (DG) methods mainly focus on aligning the global distribution shift between source and target domains, yet without considering the correlations between the subdomains within the source domain and the target domain of interest. Since the ignorance of the fine-grained distribution information in the source may still bind the DG expectation on EEG datasets with multimodal structures, multiple patches (or subdomains) should be reconstructed from the source domain, on which multi-classifiers could be learned collaboratively. It is expected that accurately aligning relevant subdomains by excavating multiple distribution patterns within the source domain could further boost the learning performance of DG/DA. Therefore, we propose in this work a novel DG method for EEG-based emotion recognition, i.e., Local Domain Generalization with low-rank constraint (LDG). Specifically, the source domain is firstly partitioned into multiple local domains, each of which contains only one positive sample and its positive neighbors and k2 negative neighbors. Multiple subject-invariant classifiers on different subdomains are then co-learned in a unified framework by minimizing local regression loss with low-rank regularization for considering the shared knowledge among local domains. In the inference stage, the learned local classifiers are discriminatively selected according to their importance of adaptation. Extensive experiments are conducted on two benchmark databases (DEAP and SEED) under two cross-validation evaluation protocols, i.e., cross-subject within-dataset and cross-dataset within-session. The experimental results under the 5-fold cross-validation demonstrate the superiority of the proposed method compared with several state-of-the-art methods.