This paper addresses the problem of 3D scene reconstruction in cases when the extrinsic parameters (rotation and translation) of the camera are unknown. This problem is both important and urgent because the accuracy of the camera parameters significantly influences the resulting 3D model. A common approach is to determine the fundamental matrix from corresponding points on two views of a scene and then to use singular value decomposition for camera projection matrix estimation. However, this common approach is very sensitive to fundamental matrix errors. In this paper we propose a novel approach in which camera parameters are determined directly from the equations of the projective transformation by using corresponding points on the views. The proposed decomposition allows us to use an iterative procedure for determining the parameters of the camera. This procedure is implemented in two steps: the translation determination and the rotation determination. The experimental results of the camera parameters estimation and 3D scene reconstruction demonstrate the reliability of the proposed approach.