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In many network and communication systems, there are larger number of timers used for various applications, the efficiency of timer management algorithm will directly affect the system performance, in many applications, larger number of operations should be periodically triggered. This means many timers should be periodically added, which will consume much computing resources. In the paper, a new timer management algorithm, named Two-dimensional Index Queue(TIQ) algorithm, is introduced, in which a special data structure is used to improve the algorithm efficiency, and very fit for large number of timers and the periodical volume timers re-attach situations. It is very simple to be implemented, and when running, consumes small computing resources. It will be very useful for improving the performance of network and communications systems. In the last section of the paper, two application scenarios in 3GPP core network are described for showing the benefit of this algorithm.