The major limitation of persistent scatterer interferometric synthetic aperture radar (PSInSAR) is that it detects only one- or two-dimensional displacements, such as those in the line of sight (LOS) and azimuth directions, by repeat-pass SAR observations. Three-dimensional (3D) displacement reflects the actual sliding surface and failure mechanism of a slope. To transform LOS deformation into a reliable 3D displacement, a new approach for obtaining the 3D displacement is proposed herein based on the slope deformation (Dslope). First, the deformation value calculated using the Global Navigation Satellite System (GNSS) as a constraint is used to eliminate the residual deformation of PSInSAR. Then, Dslope is obtained from the relationship between DLOS and the slope angle extracted from the digital elevation model (DEM). Finally, according to the geometric relationship between Dslope and DLOS, a novel approach for calculating 3D displacement is proposed. When comparing the 3D displacement extracted by the proposed method and that from GNSS data in Jinpingzi landslide, the root-mean-square error (RMSE) values were ±2.0 mm, ±2.8 mm, and ±2.6 mm in the vertical, north, and east directions, respectively. The proposed method shows high accuracy in 3D displacement calculation, which can help to determine the failure mechanism of a landslide. This method can be widely used in landslide monitoring in wide areas.