Multi-viewpoint image display (MID) technique is very important for the realization of 3-D TV that can display the views of objects corresponding to viewer's position. For MID, intermediate images corresponding to virtual camera positions are to be synthesized using the captured images from real cameras. This paper presents a novel method to synthesize intermediate images efficiently. Main contribution of our work is significant reduction of searching range in the EPI-traceline method by using phase correlation technique, and the computational efficiency is improved. Experimental results show the effectiveness of our method in the computation time and the interpolated image quality.