The wave is an important hydrological element in marine research. Accurately describing the characteristics of waves is therefore significant to the study of marine power. The contents of this article are as follows: (1) a wave height measurement system using binocular cameras is proposed, and the small tank experiments are conducted to prove the efficacy of the proposed system; (2) based on the scale invariant feature transition (SIFT) algorithm, sub-pixel Harris corners are calculated in the difference-of-Gaussian (DOG) space to locate key points more accurately; and (3) a bi-directional epipolar constraint is employed to decrease the mismatch rate and computation time.