In this paper, we propose a novel time reversal-based localization method for pipeline leakage. In the proposed method, a so-called TR self-adaptive cancellation is developed to improve the leak localization resolution. First of all, the proposed approach time reverses and back-propagates the captured signals. Secondly, the time reversed signals with the various coefficients are superposed. Due to the synchronous temporal and spatial focusing characteristic of time reversal, those time reversed signals will cancel each other out. Finally, the leakage location is distinguished by observing the energy distribution of the superposed signal. In this investigation, the proposed method was employed to monitor a 58 m PVC pipeline. Three manually controllable valves were utilized to simulate the leakages. Six piezoceramic sensors equipped on the pipeline, recorded the NWP signals generated by the three valves. The experimental results show that the leak positions can accurately revealed by using the proposed approach. Furthermore, the resolution of the proposed approach can be ten times that of the conventional TR localization method.