An image multiplexing and authentication method based on the double-phase retrieval algorithm (DPRA) with the manipulations of wavelength and position in the Fresnel transform (FrT) domain is proposed in this study. The proposed method provides higher security because only the noise-like image can be decrypted when any of the keys is wrong during the reconstruction process. The computer simulation verifies the validity of the proposed method and also shows good resistance to the crosstalk among the reconstructed images.