Real-time capability is a key factor which affects the practicality of an indoor positioning system significantly. While visible light positioning (VLP) is widely studied since it can provide indoor positioning functionality with LED illumination, the existing VLP systems still suffer from the high positioning latency and are not practical for mobile units with high moving speed. In this paper, a real-time VLP system with low positioning latency and high positioning accuracy is proposed. With the lightweight image processing algorithm, the proposed system can be implemented on low-cost embedded system and support real-time accurate indoor positioning for mobile units with a fast moving speed. Experimental results show that the proposed system implemented on a Raspberry Pi can achieve a positioning accuracy of 3.93 cm and support the moving speed up to 38.5 km/h.