Commercial RGB-D cameras provide the possibility of fast, accurate, and cost-effective 3-D scanning solution in a single package. These economical depth cameras provide several advantages over conventional depth sensors, such as sonars and lidars, in specific usage scenarios. In this paper, we analyze the performance of Kinect v2 time-of-flight camera while operating fully submerged underwater in a customized waterproof housing. Camera calibration has been performed for Kinect's RGB and NIR cameras, and the effect of calibration on the generated 3-D mesh is discussed in detail. To overcome the effect of refraction of light due to the sensor housing and water, we propose a time-of-flight correction method and a fast, accurate and intuitive refraction correction method that can be applied to the acquired depth images, during 3-D mesh generation. Experimental results show that the Kinect v2 can acquire point cloud data up to 650 mm. The reconstruction results have been analyzed qualitatively and quantitatively, and confirm that the 3-D reconstruction of submerged objects at small distances is possible without the requirement of any external NIR light source. The proposed algorithms successfully generated 3-D mesh with a mean error of ±6 mm at a frame rate of nearly 10 fps. We acquired a large data set of RGB, IR and depth data from a submerged Kinect v2. The data set covers a large variety of objects scanned underwater and is publicly available for further use, along with the Kinect waterproof housing design and correction filter codes. The research is aimed toward small-scale research activities and economical solution for 3-D scanning underwater. Applications such as coral reef mapping and underwater SLAM in shallow waters for ROV's can be a viable application area that can benefit from results achieved. © 2013 IEEE.