A system and method for reconstructing an image of a subject, in which motion has been prospectively corrected, using a magnetic resonance imaging (MRI] system are provided. An imaging pulse sequence is used to acquire image data in addition to navigator data using an ultra-fast navigator, such as a cloverleaf navigator. When motion is detected in the navigator data, a volume navigator (vNav] sequence is performed, from which motion estimates are generated and used to update the imaging pulse sequence to prospectively correct for the motion in subsequent repetition times.