Method of locating a sought object, by means of electromagnetic signals exchanged between a search device, incorporated in a portable apparatus, and a target device attached to the sought object, the search device including a transceiver associated with a pair of antennae (A1 and A2) spaced apart from each other, display means and electronic means for managing the transceiver and the display means, the target device including a transceiver associated with an antenna and with electronic means capable of detecting the reception of ultra wideband signals orginating from the search device; the method including a locating phase which includes at least one locating sequence in which: a) the search device emits two respective locating signals across the two antennae (A1, A2) thereof, b) the target device receiving the two locating signals measures a time difference (tdiff) between the respective receptions of said two locating signals; c) the target device elaborates and emits a return signal containing an indication relating to said difference between the travel times; d) the search device measures a total time (tdist) between the emission of at least one of the two locating signals and the reception of the return signal by one of its two antennae and calculates the two travel times (t1, t2) of said two locating signals between the antenna of the target device and respectively the two antennae (A1, A2) of the search device on the basis of said total time (tdist), of said time difference (tdiff) between said receptions of the two locating signals and of a processing time between one of said receptions or the other and the emission of the return signal; and e) the search device calculates at least the direction or the two possible directions (P, Q) of the sought object by triangulation, based on said two travel times (t1, t2) and the space between the two antennae (A1, A2) thereof, and displays at least the direction of said position or of the two possible positions. a) the search device emits two respective locating signals across the two antennae (A1, A2) thereof, b) the target device receiving the two locating signals measures a time difference (tdiff) between the respective receptions of said two locating signals; c) the target device elaborates and emits a return signal containing an indication relating to said difference between the travel times; d) the search device measures a total time (tdist) between the emission of at least one of the two locating signals and the reception of the return signal by one of its two antennae and calculates the two travel times (t1, t2) of said two locating signals between the antenna of the target device and respectively the two antennae (A1, A2) of the search device on the basis of said total time (tdist), of said time difference (tdiff) between said receptions of the two locating signals and of a processing time between one of said receptions or the other and the emission of the return signal; and e) the search device calculates at least the direction or the two possible directions (P, Q) of the sought object by triangulation, based on said two travel times (t1, t2) and the space between the two antennae (A1, A2) thereof, and displays at least the direction of said position or of the two possible positions.