Optical three-dimensional (3-D) profilometry is gaining increasing attention for its simplicity, flexibility, high accuracy, and non-contact nature. Recent advances in imaging sensors and digital projection technology further its progress in high-speed, real-time applications, enabling 3-D shapes reconstruction of moving objects and dynamic scenes. In traditional 3-D measurement system where the processing time is not a key factor, camera lens distortion correction is performed directly. However, for the time-critical high-speed applications, the time-consuming correction algorithm is inappropriate to be performed directly during the real-time process. To cope with this issue, here we present a novel high-speed real-time 3-D coordinates measuring technique based on fringe projection with the consideration of the camera lens distortion. A pixel mapping relation between a distorted image and a corrected one is pre-determined and stored in computer memory for real-time fringe correction. And a method of lookup table (LUT) is introduced as well for fast data processing. Our experimental results reveal that the measurement error of the in-plane coordinates has been reduced by one order of magnitude and the accuracy of the out-plane coordinate been tripled after the distortions being eliminated. Moreover, owing to the merit of the LUT, the 3-D reconstruction can be achieved at 92.34 frames per second.