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This paper designs a technique route to generate high-quality panoramic image with depth information, which involves two critical research hotspots: fusion of LiDAR and image data and image stitching. For the fusion of 3D points and image data, since a sparse depth map can be firstly generated by projecting LiDAR point onto the RGB image plane based on our reliable calibrated and synchronized sensors, we adopt a parameter self-adaptive framework to produce 2D dense depth map. For image stitching, optimal seamline for the overlapping area is searched using a graph-cuts-based method to alleviate the geometric influence and image blending based on the pyramid multi-band is utilized to eliminate the photometric effects near the stitching line. Since each pixel is associated with a depth value, we design this depth value as a radius in the spherical projection which can further project the panoramic image to the world coordinate and consequently produces a high-quality measurable panoramic image. The purposed method is tested on the data from our data collection platform and presents a satisfactory application prospects.