To overcome the drawbacks of low accuracy and flexibility of the traditional camera calibration methods, a camera calibration method based on the phase target is proposed. First, the liquid crystal display (LCD) is used as the phase target to generate the orthogonal sinusoidal fringe patterns in red and blue channels. Only one fringe pattern is used to obtain the unwrapped phase map in both the horizontal and vertical directions via the Fourier transform and the spatial phase unwrapping algorithm. Then, the phase target is arbitrarily placed at several different positions within the depth field of this camera to establish an accurate mapping relationship between the world coordinate and the pixel coordinate. Finally, the intrinsic parameters of this camera are calibrated and the accuracy of calibration results is evaluated by means of the re-projection errors. The experimental results show that we can obtain the unwrapping phase map of two directions at each phase target position by collecting only one fringe pattern with the proposed method. Compared with those in the existing methods, not only the calibration steps in the proposed method are simpler, but also the re-projection error is only 0.042 pixel.