The wireless cooperative positioning scheme based on information fusion is proposed in this paper. The scheme combines large-scale TOA and small-scale distance measured in the converged networks. The asymptotically efficient estimator based on maximum likelihood (ML) estimation is introduced in the proposed scheme, and the position of mobile terminal is estimated with closed-form solution. Moreover, the Cramer-Rao lower bound (CRLB) of location error is analyzed in theory. Theoretical analysis and simulation results verify that the proposed scheme can significantly enhance the location accuracy, especially in NLOS environment, and the MSE performance of the location estimator will approximate the CRLB as the number of reference terminals increases.