Aiming at the problems that great noise effect exists and the inversion ability for multiple magnetic source parameters is poor in traditional magnetic source parameter inversion method, a multimagnetic source parameter inversion method based on magnetic sensor array is proposed. Firstly, the magnetic tensor data measured using the magnetic sensor array are converted into the normalized magnetic source strength (NSS), and the upward continuation of NSS is conducted to reduce the effect of the high frequency noise in the normalized magnetic source strength data. Then, the horizontal position of the magnetic source is estimated using an improved tilt angle based on the normalized magnetic source strength, wherein the maximum value of the positive extremum values in the calculation region is the horizontal position of the magnetic source. Finally, according to the Euler homogeneity equation of normalized magnetic source strength, an improved magnetic source depth estimation method is proposed to realize the single point estimation of magnetic source depth and magnetic moment. The simulation and experiment results show that the proposed method is not affected by the geomagnetic background magnetic field compared with the Nara inversion method. The horizontal location error of multitarget magnetic sources is not greater than 008 m, the depth relative error is not greater than 2476%, and this method also has a strong antinoise ability.