An optical see-through (OST) head-mounted display (HMD) uses a calibration matrix having a fixed sub-set of adjustable parameters within all its parameters. Initial values for the calibration matrix are based on a model head. A predefined set of incremental adjustment values is provided for each adjustable parameter. During calibration, the calibration matrix is cycled through its predefined incremental parameter changes, and a virtual object is projected for each incremental change. The resultant projected virtual object is aligned to a reference real object, and the projected virtual object having the best alignment is identified. The setting values of the calibration matrix that resulted in the best aligned virtual object are deemed the final calibration matrix to be used with the OST HMD.