In this study, an interleaved parallel finite volume projection algorithm is proposed to solve the two-phase flow control equations based on the phase field method. This strategy relies on the explicit advancement of the pressure Poisson equation, thus breaking through the efficiency bottleneck of the projection algorithm for solving the incompressible Navier-Stokes equations. Moreover, we propose an interleaved scanning strategy to update variables on nodes for compact spatiotemporal coupling. The combination with the phase field method enables accurate capture of interface dynamics and topology at a lower cost. Test results show that with 131072 grids and 8-thread CPU parallelization, the efficiency of the proposed parallel algorithm reaches more than 80 times that of the serial standard projection algorithm.