A sound localization system includes a multi-mic sound collector and a computing device. The multi-mic sound collector includes a carrier and a plurality of sound receivers removably attached to the sound receivers. The computing device includes a data communicator, a synchronizer, and a processor. The data communicator receives preprocessed audio data from the multi-mic sound collector. The synchronizer synchronizes the preprocessed audio data. The processor analyzes the synchronized audio data to identify and localize a target audio feature. A sound localization method of the sound localization system is also provided. The present invention facilitates monitoring of the functioning or physiological signs of a monitored subject and allows early detection and diagnosis of abnormalities or diseases.