［Purposes］To study the optimal location of oil depot in the process of oil transportation. ［Methods］Considering various factors comprehensively, a multi-objective optimization model was established with the objective of minimizing economic cost, maximizing oil unit satisfaction and oil depot security, and the model was analyzed. ［Findings］Based on the classical linear weighted quantization method of multi-objective optimization problems, simulated annealing algorithm was introduced to solve the multi-objective optimization model. ［Conclusions］The proposed multi-objective optimization method can obtain better economic cost with higher security and satisfaction, which provides a reference for decision-making to better solve the location of oil depot.