With interconnecting and developing of power system, the problem of power flow computation on dispersed data resource need to be solved. A new distributed computation method of power flow based on Ward equivalent is presented. According to master-slaver splitting principle, multi-area interconnected power system is divided into master-slaver areas. Boundary buses in different areas are defined as different bus-types. Neighborhood areas are equivalent by Ward equivalent principle, and the equivalent injection power and equivalent impedance are worked out. Power flows from master area to slaver areas are solved by Newton method, and the equivalent injection power and equivalent impedance on the boundary are modified by their solutions. The process above repeats until to convergence. The proposed distributed power flow method takes full advantage of the information of power, voltage, network configuration in neighborhood areas, so it is better on convergence and quality of solution. The proposed algorithm is testified by IEEE 14-bus system and a practical 181-bus system.