This paper introduces a novel successive-intersection-approximation-based power flow method for integrated transmission and distribution networks (I-T & D). In this method, the entire I-T & D is split into the transmission network part, distribution network part, and boundary part. Then, alternate iterations are processed between a transmission network (TN) and several distribution networks (DNs) by exchanging the voltage and power injection of boundary buses. Particularly, the voltage magnitude of the boundary buses will be modified every two iterations by obtaining an intersection with the results in the previous two iterations. The local quadratic convergence of the method is proved strictly. The numerical experiment demonstrates that the proposed method has the same accuracy as the method based on the global model. Also, better convergence and efficiency can be achieved under the proposed method compared with the master-slave-splitting method in several different circumstances, DNs with loops, DNs with distributed generations, DNs with on-load tap changers, large-scale systems, etc. Besides, the proposed method is applied in the contingency analysis, achieving satisfying convergence and efficiency.