The three array CCD stereo camera onboard the Chang’e orbitor is an important load to realize the moon terrain observation, which progressively scans the lunar surface by three kinds of angles of view, i.e., foresight, front sight and back-sight, thus obtaining two-dimensional phantoms of three kinds of inclination angles between north latitude 70° and south latitude 70°. In the absence of exterior orientation elements and lunar ground control points, a photogrammetric method of three-dimensional modeling is put forward: Through image matching, image points of the same names in the foresight, vertical image and back-sight scanning phantoms can be found; with the exterior orientation elements at each scanning time calculated through resection and the theory of collinear equation, the three-dimensional coordinates of the points on lunar surface can be calculated; finally, on the basis of the former results, the lunar terrain digit elevation model (DEM) radial direction altitude information can be obtained, thus the lunar terrain three-dimensional model is established.