In this paper, the flexural wave propagation and localization in randomly disordered binary periodic beams with the axial load are studied. Based on the continuity conditions, the transfer matrix between the constitutive unit cells is derived. The expression of the localization length in the disordered periodic system is presented. Numerical calculations are performed to illustrate the localization characteristics of the flexural wave. The effects of the axial load on the band gap structures and the localization properties are discussed. From the results, we can observe that the properties of the pass band and stop band for the perfect system can be tuned by the axial load. Moreover, the localization properties of the flexural wave will be strengthened by the higher disordered degree.