Aiming at the problems of time, manpower, high cost and low precision of the existing surface displacement monitoring equipment in shield construction, an accurate measurement method of surface displacement based on binocular vision is proposed. The binocular vision measurement technology is used to calculate the three-dimensional coordinates of space points, the displacement measurement algorithm is used to calculate the displacement of coordinate points, which realizes the accurate measurement of surface displacement in the process of shield construction. Experimental results show that the repeatability accuracy of x coordinate is better than 0.3 mm, y coordinate is better than 0.1 mm, z coordinate is better than 3 mm, and the absolute measurement accuracy is better than 1.4 mm. The displacement measurement error of this method is less than 1 mm in the field experiment, which meets the requirement of subway tunnel shield construction.