In-plane displacement and strain measurements of planar objects by processing the digital images captured by a camera phone using digital image correlation (DIC) are performed in this paper. As a convenient communication tool for everyday use, the principal advantages of a camera phone are its low cost, easy accessibility, and compactness. However, when used as a two-dimensional DIC system for mechanical metrology, the assumed imaging model of a camera phone may be slightly altered during the measurement process due to camera misalignment, imperfect loading, sample deformation, and temperature variations of the camera phone, which can produce appreciable errors in the measured displacements. In order to obtain accurate DIC measurements using a camera phone, the virtual displacements caused by these issues are first identified using an unstrained compensating specimen and then corrected by means of a parametric model. The proposed technique is first verified using in-plane translation and out-of-plane translation tests. Then, it is validated through a determination of the tensile strains and elastic properties of an aluminum specimen. Results of the present study show that accurate DIC measurements can be conducted using a common camera phone provided that an adequate correction is employed.