A shape measuring system reduced in size and cost and high in the light utilization efficiency, as well as a shape measuring method, are disclosed which can measure the distance up to an object accurately without being influenced by external conditions such as a change in reflectance of the surface of the object. A semiconductor laser emits an intensity-modulated illumination light. A plane sensor detects a combined light of both a reflected light from an object and a reference light and outputs a composite light detection signal. The semiconductor laser also emits an illumination light which is a stationary light not intensity-modulated. At this time, a shutter is closed. The plane sensor detects the reflected light from the object and outputs a detection signal thereof. For the composite light detection signal a distance calculator makes correction for eliminating the influence of reflectance of the object on the basis of a detection signal of a reflected stationary light and thereafter calculates the distance up to the object on the basis of the composite light detection signal after the correction.