Phase measurement profilometry based on Gray code has high robustness and anti-noise ability, and it is a major research hotspot in the field of three-dimensional (3D) measurement. Based on the existing measurement methods, this paper proposes a 3D shape measurement method via embedding the Gray code into the phase-shifting fringe for composite pattern projection. By moving the traditional three Gray code patterns to the right with the shift distance of half a fringe period, six Gray code patterns are obtained, which are alternately embedded into three groups of the same four step phase-shifting fringes and projected in turn combined with binary defocusing technology. After a series of deformed composite fringe patterns are captured, the information of the three groups of deformed composite patterns is synthesized and decoded along the time sequence to obtain two groups of staggered fringe levels, which can avoid the error of Gray code order edge from the source; at the same time, the corresponding truncated phase distribution is calculated by using the traditional phase-shifting algorithm, and the comprehensive decoding results on the time sequence can be used to guide the generation of truncated phase and reconstruct the 3D shape information of the object to be measured. Experimental results of 3D measurement of static and dynamic scenes verify the reliability, efficiency, and robustness of the method. This method can reconstruct a new 3D surface shape for every five more patterns recorded, which has good practicality in high-speed dynamic 3D measurement.