Traditional large-scale educational data are typically static and updated periodically, making it difficult to capture the dynamic changes in real time. However, recent technological advancements allow online exam platforms to collect students’ response data in real time. While item response theory (IRT) estimation methods are widely recognized for their accuracy, they are primarily designed for offline environments. When real-time data continuously arrives and online parameter estimation is required, these methods become computationally impractical. To address this challenge, we propose a recursive stochastic algorithm, i.e., truncated average stochastic Newton algorithm (TASNA), for the efficient online parameter estimation within the IRT framework. This algorithm significantly improves computational efficiency compared to the expectation–maximization (EM) algorithm implemented in the mirt package in R. The algorithm offers a powerful alternative to the traditional offline EM method. Furthermore, we investigate the asymptotic properties of the algorithm, proving its almost sure convergence and asymptotic normality. Numerical experiments using both simulated and real data demonstrate the practicality of the proposed method.