An image displacement measurement technology based on double phase-encoding joint transform correlator (DPEJTC) is proposed. Firstly, a phase mask is generated electronically and applied to encode the reference image. The encoded reference image is overlaid with the target image to form the input image. Joint power spectrum (JPS) of the input image is obtained by a Fourier transform. Secondly, a filter is applied to JPS which is encoded by the same phase mask. After an inverse Fourier transform, a brightest peak in relation to the displacement between the reference and target image appears in the correlation plane. Displacement measurement of multiple images with this method is given. In comparison with the methods based on traditional joint transform correlator (JTC), this method can use the space of the input plane efficiently, disperse the auto-correlation item into system noises and remain the cross-correlation item only, which is convenient for detection. Comparing with different displacement measurement technologies, results show that our method takes edge over the other algorithms, and its root mean square errors (RMSE) can remain within 0.1 pixel.