Visual object tracking has played a crucial role in computer vision with many applications. Being intensively studied in recent decades, visual tracking has witnessed great advances in either speed (e.g., with correlation filters) or accuracy (e.g., with deep features). Real-time and high accuracy tracking algorithms, nevertheless, remain scarce. In this paper we study the problem from a new perspective and present a novel parallel tracking and verifying (PTAV) framework, by taking advantage of the ubiquity of multi-thread techniques and borrowing ideas from the success of parallel tracking and mapping in visual SLAM. The proposed PTAV framework typically consists of two components, a (base) tracker T and a verifier V, working in parallel on two separate threads. The tracker T aims at providing a super real-time tracking inference and is expected to perform well most of the time; by contrast, the verifier V validates the tracking results and corrects T when needed. The key innovation is that, V does not work on every frame but only upon the requests from T; on the other end, T may adjust the tracking according to the feedback from V. With such collaboration, PTAV enjoys both high efficiency provided by T and strong discriminative power by V. Meanwhile, in order to adapt V to object appearance changes, we maintain a dynamic target template pool for adaptive verification, resulting in further improvement. In our extensive experiments on OTB2015, TC128, UAV20L and VOT2016, PTAV achieves top tracking accuracy among all real-time trackers, and in fact even outperforms many deep learning based algorithms. Moreover, as a general framework, PTAV is very flexible with great potentials for future improvement and generalization.