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In order to satisfy the increasing requirements for the time synchronization system in power system, a scheme of multi-source adaptive time synchronization system is presented in this paper. After analyzing the characteristic of those time sources commonly used, we propose a design scheme of building time synchronization to correct the local atomic clock output compared with the exterior time reference, in order to produce a PPS whose rising edge is strictly synchronized with the international standard time. An optimization algorithm is proposed in this paper as well, which can make the optimal timing source be adaptive selected from multiple sources. The multiplex error compensation algorithms is adapt to check the synchronization signals from effective source with data screening and quantitative error compensation, so as to improve the accuracy of synchronization signal. The implementation feasibility of the time synchronization has been confirmed. In addition, it has a characteristic of high accuracy, structural simplicity and feasibility for project implementation.