This paper proposes a novel implementation of the level set method that achieves real-time level-set-based object tracking. In the proposed algorithm, the evolution of the curve is realized by simple operations such as switching values of the level set functions and there is no need to solve any partial differential equations (PDEs). The object contour could change due to the change in the location, orientation or due to the changeable nature of the object shape itself. Knowing the contour, the average color value for the pixels within the contour could be found. The estimated object color and contour in one frame are the bases for locating the object in the consecutive one. The color is used to segment the object pixels and the estimated contour is used to initialize the deformation process. Thus, the algorithm works in a closed cycle in which the color is used to segment the object pixels to get the object contour and the contour is used to get the typical-color of the object. With our fast algorithm, a real-time system has been implemented on a standard PC. Results from standard test sequences and our real time system are presented.