Intensity-based fringe projection profilometry (IBFPP) is used widely because of its simple structure, high robustness, and noise resilience. Most IBFPP methods assume that any scene point is illuminated by direct illumination only, but global illumination effects introduce strong biases in the reconstruction result for many real-world scenes. To solve this problem, this paper describes an efficient IBFPP method for reconstructing three-dimensional geometry in the presence of global illumination. First, the average intensity of two sinusoidal patterns is used as a pixel-wise threshold to binarize the codeword patterns. The binarized template pattern is then used to convert other binarized fringe patterns into traditional Gray-code patterns. A proprietary compensation algorithm is then applied to eliminate fringe errors caused by environmental noise and lens defocusing. Finally, simple, efficient, and robust phase unwrapping can be achieved despite the effects of subsurface scattering and interreflection. Experimental results obtained in different environments show that the proposed method can obtain three-dimensional information reliably when influenced by global illumination.