The invention discloses a live-action three-dimensional reconstruction method and system. The method comprises the following steps: acquiring an inclined image, performing quality inspection, light and color uniformizing processing, geometric correction, homonymous point matching, block joint adjustment, multi-view image dense matching, DSM generation, true ray correction, tilt model production and image processing on the inclined image to obtain a 3D database, generating ultrahigh-density point cloud based on the inclined image, compressing and simplifying the ultrahigh-density point cloud, performing geometric processing, multi-view matching and triangulation network construction on the compressed and simplified point cloud data, extracting texture features of typical ground features, and performing visualization processing on textures to finally obtain a three-dimensional model. The problem that a large amount of time and computer resources are consumed for subsequent storage, transmission, display and reconstruction due to the fact that the density of point clouds obtained after scanning is large is solved.