An adaptive traveling-wave method to improve the accuracy of fault location has been developed. The suggested method can compensate for an error of the two-sided method caused by the dispersive nature of a phase wire along which a high-frequency electromagnetic pulse propagates from the point of the fault. The error in fault location has been determined depending on the means of registration of a high-frequency signal. Some recommendations on connection of facilities to register electromagnetic pulses used in the devices of traveling-wave fault location have been provided. The suggested method allows one to substantially reduce errors of estimation of distance to the point of a fault and is less affected by external factors. The developed method can be applied in both in existing and future devices for fault location.