Temporal asynchrony between two cameras in the vision system is a usual problem in practice. In some vision task such as estimating fast moving targets, the estimation error caused by the tiny temporal asynchrony will become non-ignorable essentials. This paper will address on the asynchrony in the stereo vision system of humanoid Ping-Pong robot, and present a real-time accurate Ping-Pong ball trajectory estimation algorithm. In our approach, the complex Ping-Pong ball motion model is simplified by a polynomial parameter function of time t due to the limited observing time interval and the requirement of real-time computation. We then use the perspective projection camera model to re-project the ball's parameter function on time t into its image coordinates on both cameras. Based on the assumption that the time gap of two asynchronous cameras will maintain a const during very short time interval, we can obtain the time gap value and also the trajectory parameters of the Ping-Pong ball in a short time interval by minimizing the errors between the images of the ball in each camera and their re-projection images from the modeled parameter function on time t. Comprehensive experiments on real Ping-Pong robot cases are carried out, the results show our approach is more proper for the vision system of humanoid Ping-Pong robot, when concerning the accuracy and real-time performance simultaneously.