It is very important for holographic optical tweezers (OTs) to develop high-quality phase holograms through calculation by using some computer algorithms, and one of the most commonly used algorithms is the Gerchberg–Saxton (GS) algorithm. An improved GS algorithm is proposed in the paper to further enhance the capacities of holographic OTs, which can improve the calculation efficiencies compared with the traditional GS algorithm. The basic principle of the improved GS algorithm is first introduced, and then theoretical and experimental results are presented. A holographic OT is built by using a spatial light modulator (SLM), and the desired phase that is calculated by the improved GS algorithm is loaded onto the SLM to obtain expected optical traps. For the same sum of squares due to error SSE and fitting coefficient η, the iterative number from using the improved GS algorithm is smaller than that from using traditional GS algorithm, and the iteration speed is faster about 27%. Multi-particle trapping is first achieved, and dynamic multiple-particle rotation is further demonstrated, in which multiple changing hologram images are obtained continuously through the improved GS algorithm. The manipulation speed is faster than that from using the traditional GS algorithm. The iterative speed can be further improved if the computer capacities are further optimized.