The invention belongs to the calculation holographic three-dimensional display field and particularly relates to a colorful holographic three-dimensional display method based on space division and a system thereof. The system utilizes a CCD camera or a computer graphical method to acquire a multi-perspective two-dimensional image of a colorful target object, through pre-processing transformation, a set of target images suitable for phase type hologram calculation are generated; an iteration Fourier transform algorithm is utilized to calculate corresponding phase type holograms; a single spatial light modulator is divided into red, green and blue sub zones, the sub zones respectively load corresponding red, green and blue component holograms, a hologram diffraction reproduction characteristic is utilized to generate three single-color holographic reproductive images on a reconstruction plane, directional diffraction of pixels of the three reproductive images is carried out to a fixed position to form different view points, multi-perspective colorful reproductive images are acquired, and true colorful three-dimensional display is realized; in combination with a spatial light modulator, rapid refresh loading of the holograms is carried out, and multi-perspective true colorful full-parallax dynamic holographic three-dimensional reproduction is realized.