A new image-based rendering technique is presented in this paper. Unlike the linear interpolation scheme, this method can exactly simulate the perspective viewing transformation during the walkthrough. To accelerate the view interpolation, the algorithm employs a binary subdivision scheme to optimize the decomposition of the source image so that the number of the resultant blocks is greatly reduced. Holes on the intermediate image are filled by two steps, namely enlarging the transferred blocks at the side adjacent to holes and retrieving the local image within the holes from the destination images by multiple-directional interpolation. Experimental results demonstrated the algorithm is much more accurate and efficient than the traditional one.