A new coupled volume of fluid and level set (CVOFLS) method is proposed to capture the moving interface, in order to improve both the inaccurate evaluation of the interface normal vector in volume of fluid (VOF) method and the poor mass conservation ability in level set (LS) method. The method takes the advantages of the VOF method and the LS method. At each time step, the LS equation is solved at first, and the interface normal vector is evaluated via the LS signed distance function. Then the VOF equation is evaluated, and the interface reconstruction and the mass correction are performed by the volume fraction. The method is applied in some benchmark cases, such as rotation of the Zalesak's disk, and stretching and shrinking of a circular fluid element. The numerical results indicate that the proposed CVOFLS method not only accurately captures the complex interface evolution and preserves the mass conservation, but also greatly improves the computational efficiency.