In this Letter, we present the modeling, design, and characterization of a light sheet-based structured light illumination (SLI) light field microscopy (LFM) system for fast 3D imaging, where a digital micromirror device is employed to rapidly generate designed sinusoidal patterns in the imaging field. Specifically, we sequentially obtain uniformly illuminated and structured light field images, followed by post-processing with a new, to the best of our knowledge, algorithm that combines the deconvolution and HiLo algorithms. This enables fast volumetric imaging with improved optical cross-sectioning capability at a speed of 50 volumes per second over an imaging field of 250×250×80µm3 in the x, y, and z axis, respectively. Mathematical models have been derived to explain the performance enhancement due to suppressed background noises. To verify the results, imaging experiments on fluorescence beads, fern spore, and Drosophila brain samples, have been performed. The results indicate that the light sheet-based SLI-LFM presents a fast 3D imaging solution with substantially improved optical cross-sectioning capability in comparison with a standard light sheet-based LFM. The new light field imaging method may find important applications in the field of biophotonics.