A three-dimensional measurement method of objects' shape in water by using light stripe projection is proposed. Usually, three-dimensional measurement is executed under the assumptions that cameras and objects are in aerial environments. However, stripe image distortion occurs when vision sensors measure objects in liquid, for the refraction of the light on the air and water interface, and brings errors in a triangulation. The proposed method can measure accurately three-dimensional coordinates of objects' surface in water, and calculate the geometrical size of the object. The validity of the proposed method is proved experimenally. By considering the refraction of light, the three-dimensional measurement of objects in water becomes same as in air and the measurement has a higher accuracy and speed because of the epipolar constraint and sub-pixel technology.