Phase-based image matching has shown high recognition accuracy in palmprint verification. The algorithm compares a pair of palmprint images by extracting local phase features from the images and computing local correlation functions between them. A major drawback of this algorithm is its high computational cost associated with the evaluation of local correlation functions. This needs to be addressed, especially in the case of one-to-many comparisons required for palmprint identification. The problem becomes increasingly severe as the number of enrolled images increases. In this paper, we propose a novel palmprint identification algorithm with low computational complexity, which employs a sparse representation of enrolled phase features (i.e., phase templates) to evaluate local correlation functions. For this purpose, we also develop an efficient Convolutional Sparse Coding (CSC) algorithm that can derive a compact representation of phase templates. The proposed method reduces the computational cost of phase-based palmprint identification without significant degradation of recognition performance. Our experiments using public databases clearly demonstrate the advantage of the proposed method over conventional methods.