An efficient approach to dynamically reconstruct a region of interest (ROI) on a beating heart from stereo-endoscopic video is developed. A ROI is first pre-reconstructed with a decoupled high-rank thin plate spline model. Eigen-shapes are learned from the pre-reconstructed data by using principal component analysis (PCA) to build a low-rank statistical deformable model for reconstructing subsequent frames. The linear transferability of PCA is proved, which allows fast eigen-shape learning. A general dynamic reconstruction framework is developed that formulates ROI reconstruction as an optimization problem of model parameters, and an efficient second-order minimization algorithm is derived to iteratively solve it. The performance of the proposed method is finally validated on stereo-endoscopic videos recorded by da Vinci robots.