Time‐resolved velocity imaging using the magnetic resonance phase contrast technique can provide clinically important quantitative flow measurements in vivo but suffers from long scan times when based on conventional spin‐warp sequences. This can be particularly problematic when imaging regions of the abdomen and thorax because of respiratory motion. We present a rapid phase contrast sequence based on an interleaved spiral k‐space data acquisition that permits time‐resolved, three‐direction velocity imaging within a breath‐hold. Results of steady and pulsatile flow phantom experiments are presented, which indicate excellent agreement between our technique and through plane flow measurements made with an in‐line ultrasound probe. Also shown are results of normal volunteer studies of the carotids, renal arteries, and heart.