A new method of three-dimensional (3D) image optical encryption based on phase-shifting compressive Fresnel holography (PSCFH) is presented. In the optical encryption step, the 3D object is encrypted with random phase masks using phase-shifting interferometry to record three intensity images with different phase-shifting. In the decryption step, the three-step phase-shifting technique is first used to extract the complex optical field at the recording plane. Finally, the 3D object is reconstructed from the recovered complex optical field using compressive Fresnel holography with the correct key. Numerical experiments demonstrate the feasibility and robustness of our proposed PSCFH method.