Highly accurate displacement estimation method is critical for Ultrasound Elastography. In this study, a novel sub-sample displacement estimation algorithm where axial and lateral motion estimates are simultaneously performed to enhance the accuracy of motion tracking the proposed method has been implemented in CUDA. Compared to the original C Mex (MATLAB VERSION 2014B, Mathswork Inc., MA, USA) implementation, the GPU implementation showed a factor of 70+ acceleration while maintaining the excellent motion tracking accuracy.