Panoramic 3D reconstruction enables the holistic recovery of complete 360 $^\circ$ scene geometry, offering significant benefits for robotics and AR/VR applications. However, directly estimating geometry from ERP images is inherently challenged by spherical distortions. To reduce spherical projection distortions, a common strategy is to decompose panoramas into distortion-free perspective views, but independently processing these views often introduces cross-view geometric inconsistencies. To address these challenges, we introduce GeoPano, a feed-forward framework for single-view panoramic 3D reconstruction that recovers a geometrically accurate and consistent point cloud from a single panorama. Our approach is driven by two key innovations: First, we propose a panoramic-aware attention aggregator, featuring a streamlined attention architecture equipped with a novel Pano-Attention mechanism, which explicitly exploits the intrinsic spherical geometry of the panorama to guide cross-view interactions, thereby suppressing geometric inconsistencies. Furthermore, we formulate a hybrid supervision strategy to jointly enforce fine-grained local details in perspective space and global structural coherence in spherical space. Experiments demonstrate that our method significantly outperforms previous SOTA approaches in reconstruction accuracy, geometric consistency, and visual fidelity.

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