To facilitate the applicability of phase shifting digital shearography for dynamic deformation measurement, a digital shearography measurement system that is capable to capture the two phase-shifted interferometric images instantaneously is developed. The new polarization phase-shifting interferometric system is verified by using Jones matrices. A composite optics designed allows the two phase-shifted images to be captured by one CCD simultaneously. By taking two images before and two images after the deformation, the four images were adjusted to the same gray level, and the pixel position mismatch among the images was corrected by digital image correlation method. Thereafter, the phase at each pixel was calculated. Test of the system on a force exerted disk and a heated disk was demonstrated. The results reveal that the system is applicable for dynamic measurement. However, the phase map is too noisy for phase unwraping, and further study is required.