In a real-time information transmission and reception system, a transmission device includes a light emitter driven by a modulated control signal generated by a modulation controller based on a code sequence, which is encoded from an input signal generated by an input unit and corresponding to information to be transmitted, to emit light. The modulated control signal has a constant average power, and various frequencies greater than 60 Hz. A reception device includes a photoelectric sensor for sensing the light emitted by the light emitter to generate a current signal that is demodulated and processed to generate a data output corresponding to the information and received by a display unit for displaying the information thereon.