The development of a multiple-channel dual phase lock-in optical spectrometer (LIOS) is presented, which enables parallel phase-sensitive detection at the output of an optical spectrometer. The light intensity from a spectrally broad source is modulated at the reference frequency, and focused into a high-resolution imaging spectrometer. The height at which the light enters the spectrometer is controlled by an acousto-optic deflector, and the height information is preserved at the output focal plane. A two-dimensional InGaAs focal plane array collects light that has been dispersed in wavelength along the horizontal direction, and in time along the vertical direction. The data is demodulated using a high performance computer-based digital signal processor. This parallel approach greatly enhances (by more than 100.times.) the speed at which spectrally resolved lock-in data can be acquired.