Object tracking is an important task in computer vision applications. One of the crucial challenges is the realtime speed requirement. In this paper we implement an object tracking system in reconfigurable hardware using an efficient parallel architecture. In our implementation, we adopt a background subtraction based algorithm. The designed object tracker exploits hardware parallelism to achieve high system speed. We also propose a dual object region search technique to further boost the performance of our system under complex tracking conditions. For our hardware implementation we use the Altera Stratix III EP3SL340H1152C2 FPGA device. We compare the proposed FPGA-based implementation with the software implementation running on a 2.2 GHz processor. The observed speedup can reach more than 100X for complex video inputs.