By exploring a newly developed multistage irregular shortest-path ray tracing algorithm and combining with the subspace inversion solver, we in this paper develop a simultaneous traveltime inversion method for updating both the velocity fields, reflector geometries and source hypocenter locations by using multiple classes of arrival times. The numerical simulation inversions and comparison with the two parameter (velocity and reflector geometry or velocity and hypocenter location) inversions indicate that the results of three model parameter inversion are approximate to the two model parameter inversion. In addition, the new developing simultaneous inversion algorithm is not sensitive to a tolerable noise in the traveltime data, which verifies that the inversion methodology is a practical and efficient way to improve the spatial resolution and reduce the artifacts in reconstructing the three model parameters.