We propose an autostereoscopic three-dimensional (3D) projection display. The display consists of four projectors, a projection screen, and two lenticular sheets. The operation principle and calculation equations are described in detail and the parallax images are corrected by means of homography. A 50-inch autostereoscopic 3D projection display prototype is developed. The normalized luminance distributions of viewing zones from the simulation and the measurement are given. Results agree well with the designed values. The proposed prototype presents full-resolution 3D images similar to the conventional prototype based on two parallax barriers. Moreover, the proposed prototype shows considerably higher brightness and efficiency of light utilization.