As spatial light modulators (SLMs) are becoming flexible and the preferred device for light steering, the SLM’s modulation calibration still remains challenging. No pixel-addressable measurement of the SLM has yet been practically implemented. We present a quantitative phase measurement and calibration method for a parallel aligned liquid crystal spatial light modulator (PAL-SLM) based on Pancharatnam phase-shifting interferometric microscopy. The pixel-wise phase of SLM can be detected from microscopic interference pattern formed from two orthogonally polarized light waves reflected off the PAL-SLM. The wave phase is modulated or non-modulated depending on its polarization direction parallel or orthogonal to the liquid crystal director. Owing to self-referencing common-path interferometric microscopic imaging, the proposed method is quite robust against environmental disturbance and enables a high-precision pixel-wise characterization of SLM.