We derive the localization formula for N=4 supersymmetric quiver quantum mechanics in the Higgs and Coulomb branch. The partition function (index) is exactly evaluated and it is shown that the path integral is localized at fixed points, which are given by solutions to the BRST equations combined with D-term and F-term conditions. We give various examples of the quiver theory and classifications of their fixed points. The indexes completely agree with the mathematical wall crossing formulae for the quiver moduli spaces. We also discuss a gravitational picture of the localization in the Coulomb branch.