A time-division multiplexing method for computer-generated holograms (CGHs) is proposed to solve the problem of the limited space-bandwidth product. A three-dimensional (3-D) scene is divided into multiple layers at different depths. The CGH corresponding to each layer is calculated by an angular-spectrum algorithm that is effective at a wide range of propagation distances. All of the CGHs are combined into several group-CGHs. These group-CGHs are sequentially uploaded onto one spatial light modulator at a high frame rate. The space-bandwidth product can be benefited by the time-division processing of the CGHs. The proposed method provides a new approach to achieve high quality 3-D display with a fast and accurate CGH computation.