A regional binary encoding method that applied in the structured light projection three-dimensional (3D) shape measurement is proposed. This method determines the region encoding range and binary encoding patters according to the maximum depth of the surface of measured object. Then the continuous phase distribution of the deformed fringe can be acquired directly by using the basic regional order. On the premise of guaranteeing the reliability and accuracy, this technique can effectively reduce the number of encoded patterns and improve the measurement speed. Meanwhile, hardware module used in the dynamic three-dimensional shape measurement system is designed, which can achieve high-speed fringe projection and synchronized image capture at 240 frame/s and meet the requirements of dynamic 3D shape acquisition. Experimental measurement uses six patterns to accomplish the 3D shape acquisition at a speed of 40 frame/s, which realizes the dynamic 3D shape measurement. The experimental results are presented to demonstrate the feasibility of this technique.