For low precision of traditional inverse distance weighting (IDW) interpolation, a high-precision interpolation algorithm is developed. Iterative defect correction (IDeC) is applied to correct IDW result, with which a second order accuracy is achieved theoretically within finite iterations. Numerical validations based on structured and unstructured grid are performed. It shows that, with this algorithm the second order accuracy is kept. Furthermore, the algorithm is adopted to surface reconstruction of a 2D circle and a 3D sphere, in which smoothness of reconstructed surface is improved and second order accuracy is maintained. In a two-layer mesh interpolation experiment, absolute error of velocity and pressure is reduced by more than 45%, and pressure contours are closer to the initial field.