In this paper, a binary phase extraction joiont transform correlator (BPEJTC)system is proposed as a new phase-type optical correlator in which the correlation errors and DC component are dramtically reduced and optical efficiency and correlation performance are also improved by reconstructing the joint transform power spectrum (JTPS) of the conventional joint transform correlator (JTC)system form which the autocorrelation and crosscorrelation siganls generated in each self-plane are removed, and the binary phase function is extracted from the phase value of the reconstructed JTPS. Through some computer simulation and optical experimental results, the possibility of the implementation of the real-time multi-target tracking and recognition system is also suggested.