Because existing time-reversal (TR) algorithms are mostly suitable for energy focusing of a single target, it is difficult to accurately locate scenes containing multiple targets. In this study, based on the temporal and spatial morphological characteristics of various echo signals in the B-scan of a single-transmission multireceiver antenna system, high-resolution hyperbolic Radon transform (HRT) is applied to integrate different target echo signals to represent them sparsely. The different target signals in the high-resolution Radon domain are separately and independently reconstructed. Using this, a space–time multistatic data matrix (MDM) is constructed for TR imaging, so that the TR imaging method realizes high-precision positioning of multiple targets under a single-transmission multireceiver antenna system. Numerical simulation results and an experiment using real radar data verified the effectiveness of the proposed method in realizing accurate multitarget TR imaging.