Electromechanical impedance analysis is a traditional method to identify the occurrence of bolt looseness, but accurate localization of blot looseness is hard to realize on the flange. In this study, a flange model with bolt connection stiffness varying with position is proposed. The location of bolt looseness can be then determined from the impedance spectrum of the model since the uniformity and symmetry of the flange are broken. The analytic model is established to reveal the distinguishability of the eigenfrequency shifting characteristics when the connection stiffness at different positions changes. The frequency shifting sequence is extracted from the coupling impedance spectrum as a feature, and the correlation between the sequences corresponding to bolt looseness at different positions is low. The relationship between the sequence and the degree of looseness is highly related so that the unknown degree of looseness can be matched with the calibrated sequence to realize the localization of the looseness. Based on the distinguishability of the frequency shifting sequence, the connection-stiffness-varying model shows great potential in the field of flanges or other connecting structures for structural health monitoring and damage localization.