A new real-time three-dimensional(3D) shape measurement based on single-shot color composite grating projection is proposed. In the methods， the three frames of phase-shifting sinusoidal gratings with a shifted phase of π2 are respectively coded into the red (R)， green (G) and blue (B) channels to form a single-shot color composite grating. When this color composite grating is projected to the object， only a single frame of color deformed pattern is needed to capture. By color separating method， the corresponding three-frames of monochrome phase-shifting deformed patterns with a shifted phase of π2 can be demodulated. Due to the color crosstalk and chromaticity imbalance among the three color channels， the least square method for DC component of the three frames of monochrome phase-shifting deformed patterns is used to correct the background consistency， so as to obtain the three-frame corrected monochrome phase-shifting deformed patterns. Using the established 3D reconstruction physical model， the 3D shape of the object can be restored. The experimental results verify the feasibility and practicability of the proposed method. Further experimental results show that the measurement accuracy of the proposed method is better than that of the traditional single-frame color PMP. Because the proposed method only needs one frame of color composite grating to reconstruct the 3D shape of the measured object， it has a good application prospect in real-time 3D measurement.