To overcome the parallax distortion and time-consuming problems encountered in multi-camera panoramic imaging system during short distance observation applications,this paper presents a fast mosaicing algorithm based on adaptive adjustment of the image transformation matrix between adjacent images.According to the matching degree of overlapping image area,the proposed method uses fast and adaptive optimization algorithm to search the optimal parameters of transformation matrix that can minimize the parallax distortion,thus realizing real-time and seamless mosaicing of panoramic video.The experimental results show that the proposed algorithm can construct multi-camera panoramic video seamlessly and meet the real-time requirement for panoramic video observations at short distance.