Considering the extensive application potential of digital holography in three-dimensional particle field measurement, this study designs and implements a particle holographic image reconstruction algorithm based on a field-programmable gate array (FPGA). A novel design architecture and implementation scheme are proposed to address challenges encountered in scenarios requiring high real-time performance, large and variable hologram sizes, and multiple reconstructed cross sections under limited hardware resources. The overall architecture exhibits independence in three dimensions, maintaining a hierarchical and structured approach. The specific design incorporates strategies to mitigate fixed-point overflow and accuracy loss, real-time generation of phase shift functions without delay, and optimized data loading and storage solutions, thereby effectively resolving the aforementioned challenges. Experimental results demonstrate that the structural similarity between the FPGA-based particle holographic reconstruction results and the reference values reaches 99.8%, confirming high accuracy. For hologram sizes of 256×256, 512×512, 1024×1024, and 2048×2048, the reconstruction time is reduced by up to 47.6%, 49.3%, 20.9%, and 84.6%, respectively, compared to existing studies. Furthermore, the computational performance is significantly improved.