A high-precision indoor positioning method based on LED and image communication is proposed, which can achieve high-precision and small-disturbance indoor positioning with low cost and wide applications. The camera is used to receive the identity information added on the LED light for the absolute position of the LED. And then, the absolute position of the camera can be calculated combined with data of the attitude sensor on the receiver. Results of the test experiment based on the method show that the positioning accuracy can be achieved within centimeter scale, and the receiver can be placed on most intelligent terminals just by software.