Virtual reality technology of panoramic photography has been successfully applied in the Olympic Games and World Expo communications. The development of this technology has opened up a new platform for virtual showcases of cultural heritage. In this paper, the Digital Olympics and Palm Expo project examples have been used to show the working processes and accomplishments of panoramic technology. The value of panoramic technology has been assessed. Furthermore, the feasibility of this technology in the field of cultural heritage has been analyzed, especially in the “Digital Museum” project. At last, new solutions are proposed for potential problems.