A novel optical interleaver scheme based on nested optical glass pairs is proposed. The assembly of pairs behaves as a cascaded Mach-Zehnder interferometer. The interleaver, with simple structure, low cost, and compact size, can be easily implemented with inexpensive material and mature preparation technology. Small channel spacing (≤50 GHz), high isolation (<–30 dB), a wide, flat passband and stop band (>2/11 period), and center-frequency tunability can be obtained simultaneously. An optimum design of a 50-GHz tunable interleaver based on this structure is given as an example. Its environmental temperature sensitivity and fabrication tolerance are also analyzed.