To locate a mobile terminal (MS1, MS2, . . . ) within a mobile communication network comprising at least a radio base station (BTS1, BTS2, . . . , BTSn), a set of physical dimensions are measured, which identify, according to respective functions, the location coordinates (x, y, z) of the mobile terminal. The method comprises the steps of: generating, starting from said set of physical dimensions and respective functions, a global locating error function (.phi.) which has a minimum for values of said locating co-ordinates (x, y, z) corresponding with the position occupied by said mobile terminal, seeking the minimum of said error function (.phi.) by varying at least one of said locating co-ordinates (x, y, z), and locating said mobile terminal in correspondence with the value of said at least one locating co-ordinate corresponding to said minimum.