The measurement of dynamic displacement is highly demanded in various engineering fields. However, existing measurement technologies still have limitations such as low efficiency, poor-precision and high cost. This paper develops and a high-precision multi-point dynamic displacement optical measurement technology and system based on the principle of Digital Image Correlation (DIC). Firstly, a tailor-made target with patterns of concentric circles is designed for automatic point recognition and image calibration. The hardware architecture that integrates both wireless and wired industrial cameras is constructed through secondary development of the SDK. Finally, A multi-point displacement measurement technique using DIC is proposed. The accuracy calibration test of this technology was carried out with 3 equal-precision gauge blocks. The results show that the measurement accuracy is 0.01mm, the basic error is 0.05%, and the sensitivity is 0.2%. Further tests of typical application scenarios were conducted. Results show that the system has a comparable accuracy to high-precision laser displacement sensors under low-frequency vibration test, while real-time high-frequency displacement measurement with high-precision can also be achieved by the proposed technology using high-frequency camera. The proposed technology has significant advantages compared to conventional techniques(e.g., laser displacement sensor, LVDT), and can be extensively applied in laboratory and field test.