Resolving changes in topography through time using accurate high‐resolution digital elevation models (DEMs) is key to understanding active volcanic processes. For the first time in a volcanic environment, we utilize very high‐resolution tri‐stereo optical imagery acquired by the Pleiades‐1 satellite constellation and generate a 1 m resolution DEM of Fogo Volcano, Cape Verde—the most active volcano in the Eastern Atlantic region. Point cloud density is increased by a factor of 6.5 compared to conventional stereo imagery, and the number of 1 m2 pixels with no height measurements is reduced by 43%. We use the DEM to quantify topographic changes associated with the 2014–2015 eruption at Fogo. Height differences between the posteruptive Pleiades‐1 DEM and the preeruptive topography from TanDEM‐X give a lava flow volume of 45.83 ± 0.02 × 106 m3, emplaced over an area of 4.8 km2 at a mean rate of 6.8 m3 s−1. Key Points Tri‐stereo photogrammetry at Fogo increases point cloud density by a factor of 6.5 and reduces area with no height measurements by 43% Estimated accuracy of heights in generated tri‐stereo Pleiades‐1 DEM is <0.51 m Lava flow volume and mean output rate of 2014–2015 Fogo eruption are 45.83 ± 0.02 × 106 m3 and 6.8 m3 s−1