AbstractThe classical vorticity‐streamfunction formulation (VSF) can avoid the difficulty in the calculation of pressure gradient term of the Navier Stokes equation via eliminating pressure gradient term from the theoretical basis. Within this context we propose a general VSF, together with redefined vorticity and streamfunction, so as to realize numerically stable and reliable simulations of binary fluids with an arbitrary density contrast. By incorporating the interface‐tracking phase‐field model based on the conservative Allen‐Cahn equation [Phys. Rev. E 94, 023311 (2016)], the binary flow simulation framework is established. Numerical tests are conducted using the Lattice Boltzmann method (LBM), which is usually regarded as an easy‐to‐use tool for solving the Navier–Stokes equation but generally suffers from the drawback of not being capable of enforcing incompressibility. The LBM herein functions as a numerical tool for solving the vorticity transport equation, the streamfunction equation, and the conservative Allen‐Cahn equation. Three two‐dimensional benchmark cases, i.e., the Capillary wave, the Rayleigh–Taylor instability, and the droplet splashing on a thin liquid film, are discussed in detail to verify the present methodology. Results show good agreements with both analytical predictions and literature data, as well as good numerical stability in terms of high density ratio and high Reynolds number. Overall, the general VSF inherits the intrinsic superiority of the classical VSF in enforcing incompressibility, and offers a useful and reliable alternative for binary flow modeling.