This study proposes a dynamic SPI method for real-time data acquisition and a fast look-up table method for real-time data processing. The proposed dynamic SPI method effectively improves the frame rate without relying on the hardware performance of the imaging system. Combined with the circular sampling strategy and the optimization of measuring priority, the multi-wavelength spatial frequency diffuse images are dynamically measured at a sampling rate less than 1%. Moreover, a fast look-up table algorithm is developed, which performs region and pixel optimizations for the redundancy calculation of traditional look-up table methods. It effectively improves the efficiency of the look-up table method for optical property reconstruction. The proposed method realizes real-time acquisition and reconstruction of the multi-wavelength optical property images for more than 10 frames per second. This provides an effective technical scheme for real-time implementation of single-pixel SFDI.