In this paper, a high-throughput interpolator architecture for soft-decision decoding of Reed-Solomon (RS) codes based on low-complexity chase (LCC) decoding is presented. We have formulated a modified form of the Nielson's interpolation algorithm, using some typical features of LCC decoding. The proposed algorithm works with a different scheduling, takes care of the limited growth of the polynomials, and shares the common interpolation points, for reducing the latency of interpolation. Based on the proposed modified Nielson's algorithm we have derived a low-latency architecture to reduce the overall latency of the whole LCC decoder. An efficiency of at least 39%, in terms of area-delay product, has been achieved by an LCC decoder, by using the proposed interpolator architecture, over the best of the previously reported architectures for an RS(255,239) code with eight test vectors. We have implemented the proposed interpolator in a Virtex-II FPGA device, which provides 914 Mb/s of throughput using 806 slices.