High-accuracy panoramic three-dimensional (3D) dynamic deformation measurements are of considerable significance for studying the mechanical properties of large or ultra-large structures. As a simple, non-contact, and high-precision full-field deformation measurement technology, three-dimensional digital image correlation (3D-DIC) can provide an effective measurement method for large-scale structural deformation measurement. This paper introduces the basic principles of 3D-DIC measurement and presents key technical advancements in the panoramic deformation measurement of large structures with multiple cameras. These advancements include large-scale speckle fabrication, 3D calibration of large field-of-view, coordinate unification of multi-camera systems, and real-time calibration of camera extrinsic parameters. Furthermore, this paper presents practical applications of high-accuracy 3D dynamic deformation measurements for large structures in civil engineering and aerospace engineering fields, such as the assessment of the cassette structure in seismic shaking table tests, panoramic high-speed deformation measurement of suspension cable dome structures in progressive collapse tests, and panoramic deformation measurement of cabin structures of launch vehicles in load tests. Using high-accuracy 3D dynamic deformation measurements for large structures provides a reliable experimental method for seismic performance analysis, mechanical modeling of large structures, and in-depth study of failure mechanisms.