Localization-based imaging has revolutionized fluorescence optical microscopy and has also enabled unprecedented ultrasound images of microvascular structures in deep tissues. Herein, we introduce a new concept of localization optoacoustic tomography (LOT) that employs rapid sequential acquisition of three-dimensional optoacoustic images from flowing absorbing particles. We show that the new method enables breaking through the spatial resolution barrier of acoustic diffraction while further enhancing the visibility of structures under limited-view tomographic conditions. Given the intrinsic sensitivity of optoacoustics to multiple hemodynamic and oxygenation parameters, LOT may enable a new level of performance in studying functional and anatomical alterations of microcirculation.