In a series of applications based on a light field, three-dimensional (3D) reconstruction of objects is a basic and key task. Ordinary light fields can only reconstruct a single perspective; however, they cannot reconstruct a panorama and generate accurate 3D information in areas with scarce texture features. To solve these problems, a panoramic 3D reconstruction method based on a multi-view coding light field is proposed. First, the structured light coding is used to project sine templates to the scene to generate pixel-level phase codewords to enrich the scene features. Then, the light field is collected independently from multiple angles. Furthermore, the depth value is obtained using spatial and angle information in the interior of each light field sampling viewpoint. Finally, 3D information fusion is realized between different light field sampling points under the pose guidance. The experimental results show that the proposed method can effectively restore the panorama information of the object. Moreover, the reconstruction of an area with insufficient texture features of the object is more accurate.