Nowadays, the efficient and reliable protection and location schemes for MMC-MVDC (Modular Multilevel Converter-Medium Voltage Direct Current) grid are few. This paper is the first to propose a scheme to not only protect the feeders and the busbar, but locate the segments in MMC-MVDC grid. To improve the reliability, this paper analyzes the transient characteristics of the pole-to-pole fault and then obtains the characteristic frequency band. Based on S-transform, STCFB (S-transform characteristic frequency band) Phase of fault component is utilized to construct the identification criterion for faulty feeder and faulty segment. The whole scheme can be divided into three steps, namely, protection starting criterion, faulty feeder and busbar protection criterion, and faulty segment location criterion. Firstly, the current gradient method is utilized to quickly detect the fault and start the protection device. Secondly, the non-unit protection criterion on busbar and feeders is proposed according to STCFB Phase of the voltage and current fault component. Thirdly, according to the STCFB Phase on both sides of the feeder segment, the faulty segment can be located. A radial MMC-MVDC distribution network model was built in PSCAD/EMTDC software to evaluate the performance of the protection and location method. Simulation results for different cases demonstrate that the proposed scheme has high accuracy, good adaptability and reliability.