The combined problem of flow interception facility location and multi-depot vehicle routing with time windows under competitive conditions is considered. Firstly, considering the decay cover of facilities and deviation distance from the given path, the spatial customer choice and the demands of flow interception facilities are described by using the step utility function. Then, after classifying facilities with the aggregation-based heuristic algorithm, the multi-objective integer programming model is established based on bi-level programming. Its upper planning targets at the maximum of market share, while the lower planning targets at the minimum cost of vehicle transportation. Finally, with the concept of greedy algorithm and Pareto optimization, objective values are obtained by means of the improved ant colony algorithm. Experiment results are analyzed and compared to verify the effectiveness and feasibility of the proposed method.