Mobile terminals boost the prosperity of location-based service (LBS) which have already involved in every aspect of People's daily life and are increasingly used in various industries. Aimed at solving the security and efficiency problem in the existing location privacy protection schemes, a K-anonymity location privacy preservation scheme based on mobile terminal is proposed. Firstly, number of rational dummy locations is selected from the cloaking region, from which more favorable locations are further filtered according to location entropy, so a better anonymity effect can be achieved. Secondly, the secure and efficient m-out-of-n oblivious transfer protocol is adopted, which not only avoids the dependency on the trusted anonymity center in existing schemes to improve the efficiency, but also meets the requirements for querying multiple interest points at one time. Security analyses demonstrate that this scheme satisfies such security properties as anonymity, non-forgeability and resistance to replay attack, and simulation results show that this scheme has higher execution efficiency and privacy level, while is low in communications costs.