A practical method for dynamic color holographic display by using a computer-generated hologram (CGH) with a high space-bandwidth product is proposed, and a dynamic color holographic display system is designed by a space-division method. First, three primary color CGHs of different frames from a color movie are fabricated on holographic recording material by a self-made CGH microfilming system. Secondly, the CGH is fixed on an X-Y moving stage, which is controlled by the system in order to bring the CGH to the appointed position. Thirdly, three primary color lasers are used to reconstruct the CGH. The switch of the lasers is controlled by the system synchronous with the X-Y moving stage. The color video with high quality can be obtained after filtering the three primary color reconstructed wavefronts. The experimental results demonstrate that the proposed dynamic color holographic display method is effective. It has practical application value in high-quality CGH display.