This paper presents a new three-dimensional (3D) volume measurement approach of bubble in gas-liquid two-phase flow. According to the dual perspective imaging principle, bubble feature images can be captured from two different view angles. The least square ellipse fitting algorithm is used to figure out the feature parameters from the captured images. Then the 3D volume of bubble can be quantitatively measured. Compaerd with the traditional volume estimation methods based on single perspective imaging, it can effectively reduce the loss of bubble feature information. In the experiment, the 3D volume reconstruction of bubbles from dual perspective images is conducted, and the variation of bubble volume in the bubble rising process is studied. The results show that the measurement accuracy based on the proposed 3D method is higher than those based on traditional methods. The volume of rising bubble is periodically changed, which indicates that bubble achieves periodic rotation and deformation in the rising process.