Based on the photon Doppler velocimetry technology, this paper studies high-speed targets' three-dimensional (3D) velocimetry technology, reproduces the movement trajectory of high-speed targets through 3D coordinates and broadens the photon Doppler velocimetry technology application scope. First, design the multiplexed photonic Doppler velocimetry optical path structure and analyze the multiplexed photonic Doppler velocimetry principle. Then, the target 3D velocity extraction method is studied, including the fiber optic probe's spatial arrangement and the calculated method of target motion trajectory. Finally, the detection sensitivity of velocity in the direction of the 3D coordinate axis is analyzed. In order to verify the reliability of 3D velocimetry technology, the paper is described in two parts: software simulation and experiment. MATLAB is used to simulate the principle of 3D velocimetry technology. The simulation results show that 3D velocimetry technology can be realized by processing Doppler frequency shift voltage signals. In the experimental part, the high-speed target is detected through fixed-angle optical fiber probes, and four sets of Doppler frequency shift voltage signals are collected. After data processing, the target's 3D velocity is extracted, and the target's motion trajectory is reproduced. Therefore, this paper provides an idea for reproducing the target's motion trajectory by obtaining the high-speed target's 3D velocity.