A new optical image reconstruction method was proposed using the multiplexed holographic technique. In the proposed system, the real and imaginary data sets are displayed on the monitor and converted to the coherent optical data using the Hushes liquid crystal light valve (LCLV). Two separate real and imaginary data are then combined with the $\frac{\lambda}{4}$-phase difference using the multiplexed hologram and Fourier transformed to provide the output image. Since the multiplexed hologram produces a complex plane wave weighted by the magnitude of the input image, the conjugate image is eliminated in the output image plane.