For particle image velocimetry (PIV) technique, the two-dimensional (2D) PIV by one camera can only obtain 2D velocity field, while three-dimensional (3D) PIV based on tomography by three or four cameras is always complex and expensive. In this work, a binocular-PIV technology based on two cameras was proposed to reconstruct the 3D velocity field of gas-liquid two-phase flow, which is a combination of the binocular stereo vision and cross-correlation based on fast Fourier transform (CC-FFT). The depth of particle was calculated by binocular stereo vision on space scale, and the plane displacement of particles was acquired by CC-FFT on time scale. Experimental results have proved the effectiveness of the proposed method in 3D reconstruction of velocity field for gas-liquid two-phase flow.