The low-frequency vibration exists in building structures, mechanical devices, instrument manufacturing, and other fields, and is the key to modal analysis, steady-state control, and precision machining. At present, the monocular vision (MV) method has gradually become the primary choice to measure the low-frequency vibration because of its distinctive advantages in efficiency, non-contact, simplicity, flexibility, low cost, etc. Although many literature reports have demonstrated that this method has the capability to reach high measurement repeatability and resolution, its metrological traceability and uncertainty evaluation are difficult to be unified. In this study, a novel, to the best of our knowledge, virtual traceability method is presented to evaluate the measurement performance of the MV method for the low-frequency vibration. This presented method achieves traceability by adopting the standard sine motion videos and the precise position error correction model. Simulations and experiments confirm that the presented method can evaluate the amplitude and phase measurement accuracy of the MV-based low-frequency vibration in the frequency range from 0.01 to 20 Hz.