We present a real-time video-based rendering system using a network camera array. Our system consists of 64 commodity network cameras that are connected to a single PC through a gigabit Ethernet. To render a high-quality novel view, our system estimates a view-dependent per-pixel depth map in real time by using a layered representation. The rendering algorithm is fully implemented on the GPU, which allows our system to efficiently perform capturing and rendering processes as a pipeline by using the CPU and GPU independently. Using QVGA input video resolution, our system renders a free-viewpoint video at up to 30 frames per second, depending on the output video resolution and the number of depth layers. Experimental results show high-quality images synthesized from various scenes.