An instrumental variable (IV) based linear estimator is proposed for effective target localization in sensor network by using time-difference-of-arrival (TDOA) measurement. Although some linear estimation approaches have been proposed in much literature, the target localization based on TDOA measurement still has a room for improvement. Therefore, we analyze the estimation errors of existing localization estimators such as the well-known quadratic correction least squares (QCLS) and the robust least squares (RoLS), and demonstrate advantages of the proposition by comparing the estimation errors mathematically and showing localization results through simulation. In addition, a recursive form of the proposition is derived to consider a real time application.