In order to measure radial distortion of each pixel in optical imaging plane, a carrier-frequency fringe phase analysis using wavelet transform method is proposed to measure the radial distortion. The phase of a vertical sinusoidal fringe is used as a carrier of the radial distortion. A relation between the radial distortion and the radial modulated phase is derived. Then, the fundamental spectrum of the distorted fringe pattern is analyzed by frequency estimation and phase estimation of Gabor wavelet transform. Since there is zero distortion at the center of the distorted (deformed) fringe pattern, the local frequency and phase at the center is used to construct the fundamental spectrum of the original fringe pattern. Thus the 3D modulated phase of the distorted (deformed) fringe pattern is extracted and converted to the radial distortion of each pixel. Using a calibration formula and a cubic convolution interpolation algorithm, a distorted colored image is calibrated. Experimental results demonstrate the proposed method is feasible.