The performance of the fiber distributed vibration monitoring technology based on the phase sensitive optical time domain reflectometer (φ-OTDR) is reseached. the principle of fiber distributed vibration monitoring of the φ-OTDR and multi-point positioning are illustrated. And this paper indicates the feasibility of realizing multi-point positioning by the φ-OTDR system, and carry on a further research on the φ-OTDR system ́s frequency response range, measuring distance, spatial resolution and other aspects. The inverse proportion relations between the frequency range and distance of the φ-OTDR system, and the relations among spatial resolution, laser pulse width, refractive index and sampling rate are illustrated.