Many applications can be benefit greatly from location- awareness information obtained by positioning and navigation system. Nowadays, a hybrid method combining Ultra-wide bandwidth (UWB) ranging modules and inertial measurement unit (IMU) has been one promising scheme for high precision positioning requirement. However, positioning errors could be terribly affected by the noise of UWB ranging measurements and accumulated errors caused by inertial sensing data. In this paper, a semidefinite programming (SDP) based node localization algorithm is proposed for such hybrid method. The positions of target sensors (TNs) can be determined using the distance estimations from location-aware anchor nodes (ANs) as well as other inertial information (e.g., acceleration and azimuth). Meanwhile, the corresponding Cramer-Rao lower bounds (CRLB) are derived as performance benchmarks. Finally, simulations are provided to illustrate the validity of our hybrid algorithm, which demonstrate that the proposed algorithm achieves superior performance and it could be very promising for high precision positioning service.