The interpolating moving least-squares (IMLS) method is discussed in detail, and a simpler formula of the shape function of the IMLS method is obtained. Then, based on the IMLS method and the Galerkin weak form, an interpolating element-free Galerkin (IEFG) method for two-point boundary value problems is presented. The IEFG method has high computing speed and precision. Then error analysis of the IEFG method for two-point boundary value problems is presented. The convergence rates of the numerical solution and its derivatives of the IEFG method are presented. The theories show that, if the original solution is sufficiently smooth and the order of the basis functions is big enough, the solution of the IEFG method and its derivatives are convergent to the exact solutions in terms of the maximum radius of the domains of influence of nodes. For the purpose of demonstration, two selected numerical examples are given to confirm the theories.