An ultrafast sizing method for nanoparticles is proposed, called as UIDLS (Ultrafast Image-based Dynamic Light Scattering). This method makes use of the intensity fluctuation of scattered light from nanoparticles in Brownian motion, which is similar to the conventional DLS method. The difference in the experimental system is that the scattered light by nanoparticles is received by an image sensor instead of a photomultiplier tube. A novel data processing algorithm is proposed to directly get correlation coefficient between two images at a certain time interval (from microseconds to milliseconds) by employing a two-dimensional image correlation algorithm. This coefficient has been proved to be a monotonic function of the particle diameter. Samples of standard latex particles (79/100/352/482/948 nm) were measured for validation of the proposed method. The measurement accuracy of higher than 90% was found with standard deviations less than 3%. A sample of nanosilver particle with nominal size of 20 ± 2 nm and a sample of polymethyl methacrylate emulsion with unknown size were also tested using UIDLS method. The measured results were 23.2 ± 3.0 nm and 246.1 ± 6.3 nm, respectively, which is substantially consistent with the transmission electron microscope results. Since the time for acquisition of two successive images has been reduced to less than 1 ms and the data processing time in about 10 ms, the total measuring time can be dramatically reduced from hundreds seconds to tens of milliseconds, which provides the potential for real-time and in situ nanoparticle sizing.