In this paper, we present a new HPEJTC system which is capable of real-time multi-target recognition and tracking with better discrimination by extracting the phase signal of reference function from the JTPS of the conventional optical JTC retaining the amplitude signal of the input function. In order to test the correlation discrimination performance of the HPEJTC system, some experiments are carried out on the scenarios susceptible to the false alarms and missing in which many similar targets are periodically loacted. And, the proposed HPEJTC is analyzed to be the real function version of the POF and finally the possibility of the real-time implementation of the POF is suggested, because it can be implemented by using spatial light modulator, CCD detector and some other optical components.