Intangible cultural heritage is a people-centered living cultural heritage. Preservation, promotion, and talent cultivation are important aspects of intangible cultural heritage protection and also crucial guarantees for sustainable development. However, traditional video recordings lack three-dimensional spatial information, and the high cost of digital scanning and reconstruction still leaves no convenient, efficient, accurate, realistic, and low-cost solution for the preservation and dissemination of intangible cultural heritage projects. Here we introduce the binocular 180-degree panoramic display method, through which a platform for recording, showcasing, disseminating, and teaching intangible cultural heritage projects in the Sanlin Old Street of Shanghai was implemented. The platform requires only VR filming without the need for 3D modeling technology. The participants can freely select intangible cultural heritage projects on the map and immerse themselves in watching the Sanlin “Three Excellence” porcelain carving, local cuisine, and embroidery. They can also enjoy the dragon dance, experience the textile craftsmanship of Sanlin’s “Three Specialties”, and even observe the production process and details of the works from the perspective of the inheritor in the first person. The results show that compared to traditional video recordings and digital scanning reconstruction, the binocular 180-degree panoramic display provides a one-to-one, face-to-face, and low-cost solution for the preservation and dissemination of projects. It allows students to increase their knowledge of intangible cultural heritage and enhance their interest in inheritance.