<p><strong>Abstract.</strong> With the rapid development of subpixel matching algorithms, the estimation of image shifts with an accuracy of higher than 0.05 pixels is achieved, which makes the narrow baseline stereovision possible. Based on the subpixel matching algorithm using the robust phase correlation (PC), in this work, we present a novel hierarchical and adaptive disparity estimation scheme for narrow baseline stereo, which consists of three main steps: image coregistration, pixel-level disparity estimation, and subpixel refinement. The Fourier-Mellin transform with subpixel PC is used to co-register two input images. Then, the pixel-level disparities are estimated in an iterative manner, which is achieved through multiscale superpixels. The pixel-level PC is performed with the window sizes and locations adaptively determined according to superpixels, with the disparity values calcualted. Fast weighted median filtering based on edge-aware filter is adopted to refine the disparity results. At last, the accurate disparities are calculated via a robust subpixel PC method. The combination of multiscale superpixel hierarchy, adaptive determination of the window size and location of correlation, fast weighted median filtering and subpixel PC make the proposed scheme be able to overcome the issues of either low-texture areas or fattening effect. Experimental results on a pair of UAV images and the comparison with the fixed-window PC methods, the iterative scheme with fixed variation strategy, and a sophisticated implementation using global optimization demonstrate the superiority and reliability of the proposed scheme.</p>