This paper presents an implementation of iris recognition algorithm using phase-based image matching - an image matching technique using phase components in 2D Discrete Fourier Transforms (DFTs) of given images. Our experimental observation clearly shows that the use of phase components of iris images makes possible to achieve highly accurate iris recognition even for low-quality iris images. In this paper, we consider the problem of designing a compact phasebased iris recognition algorithm especially suitable for hardware implementation. We also present prototype implementation of an iris recognition system based on the proposed algorithm. The prototype system fully utilizes state-of-the-art DSP (Digital Signal Processor) technology to achieve real-time iris recognition capability within a compact hardware module.