A new source location method using wave-equation based traveltime inversion is proposed to locate microseismic events accurately. With a source-independent strategy, microseismic events can be located independently regardless of the accuracy of the source signature and the origin time. The traveltime-residuals-based misfit function has robust performance when the velocity model is inaccurate. The new Fréchet derivatives of the misfit function with respect to source location are derived directly based on the acoustic wave equation, accounting for the influence of geometrical perturbation and spatial velocity variation. Unlike the mostly used traveltime inversion methods, no traveltime picking or ray tracing is needed. Additionally, the improved scattering-integral method is applied to reduce the computational cost. Numerical tests show the validity of the proposed method.