Some authors have developed a few methods of measuring wave slopes based on light refraction, including the measurement method via the distribution of light intensity or color under water. A new method based on light refraction is specified for the measurement of wave surface elevation in wave flume via imaging technology. A plane painted with black and white stripes is put on the flume floor as an indication plane, which can be arranged easily and cheaply. Compared with the previous methods, the present method is less sensitive to the noise and nonlinear effects of optical process, which can be taken as a digital method. The CCD camera is fixed above the flume with its optical axis arranged vertically to grab the images of stripes modulated by the wave surface. The modulated value can be calculated from the Hilbert transform, and then the wave surface elevation can be obtained. The algorithm and experimental procedure are specified in detail, and some experimental results are provided to show the validity of the present method.