Guided wave array-based structural health monitoring (SHM) is a promising solution for diagnosing damage in metal-connected structures. In this field, the reconstruction algorithm for probabilistic inspection (RAPID) is one of the most widely used algorithms for performing damage localization. In this paper, a density clustering RAPID based on an array-compensated damage index is proposed. A new probability distribution function was constructed based on a new damage index, which is adaptive to different elements in the sensor array to compensate for performance variation. Then, the imaging matrix of the RAPID algorithm was density-clustered to obtain the location and degree of damage. Finally, the method was verified by experiments on a stiffened aluminum plate. The experimental results demonstrate that the method achieves damage localization and enables quantitative damage diagnosis.