In view of the limitation that the transport of intensity equation method can only be used at a single wavelength, we propose a binocular phase retrieval algorithm based on multiwavelength illumination. First, we solve for the corresponding single-phase results at different wavelengths and then calculate the surface height of the object by combining the obtained synthetic wavelengths and synthetic phases, in order to reconstruct the initial phase results at different wavelengths. To solve the problem of amplification of traditional noise and surface profile noise in the phase diagram in the phase synthesis step, we introduce a step-by-step noise reduction method that can reduce the noise in the initial phase results to the level for a single wavelength and finally obtain the corresponding high-precision phase results at different wavelengths. The intensity images collected by the proposed dual-microscope system verify the correctness and effectiveness of the algorithm.