The present invention discloses an interferometric load-pull tuner system consisting of a radio-frequency (RF) or microwave transmission line containing a pair of identical RF slugs sliding on the central conductor, said slugs surrounding partially the central conductor, being extractable from the transmission line, and the corresponding exact three-terms cascade procedure based on the scattering transfer parameters (T-Parameters) multiplication in order to calculate the scattering parameters (S-Parameters) of the interferometric load-pull tuner for any positions of the two slugs in the transmission line. The interferometric load-pull tuner of this invention provides improved measurement accuracy, enhanced reliability, and allows lower cost of manufacture and maintenance.