This research presents a novel framework for automatic chroma keying and the optimizations for real-time and stereoscopic 3D processing. It first simulates the process of human perception on isolating foreground elements in a given scene by perceptual analysis, and then predicts foreground colours and alpha map based on the analysis results and the restored clean background plate rather than direct sampling. Besides, an object level depth map is generated through stereo matching on a carefully determined feature map. In addition, three prototypes on different platforms have been implemented according to their hardware capability based on the proposed framework. To achieve real-time performance, the entire procedures are optimized for parallel processing and data paths on the GPU, as well as heterogeneous computing between GPU and CPU. The qualitative comparisons between results generated by the proposed algorithm and other existing algorithms show that the proposed one is able to generate more acceptable alpha maps and foreground colours especially in those regions that contain translucencies and details. And the quantitative evaluations also validate our advantages in both quality and speed.