By combining multiple input multiple output (MIMO) technology and multiple matched filters with frequency diverse array (FDA), FDA-MIMO radar can be used to achieve two-dimensional target localization with range and angle. In this paper, we propose two FDA-MIMO multi-pulse target localization methods based on tensor decomposition. Based on the canonical polyadic decomposition theory, the signal models of CPD-DP-FDA with double-pulse and CPD-SP-FDA with stepped frequency pulses are established. By analyzing the signal processing procedures of the two schemes, the indicator beampattern used for target localization is obtained. The parameter estimation accuracy of the proposed method is investigated in single target and multiple targets scenarios, and the proposed method is compared with the traditional double-pulse method. The results show that the target localization method based on tensor decomposition can effectively solve the problem of multi-target indication ambiguity. The target positioning effect can be further improved by combining stepped frequency pulses. The derivation of Cramer–Rao Lower Bound (CRLB) demonstrates the superiority of the method.