Cancelable template protection techniques are indispensable to provide essential security and privacy privileges in biometric systems. This paper introduces an efficient cancelable palmprint recognition technique based on multi-level transformations. Gabor filtering with feature remapping is introduced for extracting highly discriminative features. Histogram remapping is applied to nonlinearly transform the downsampled Gabor features to be normally distributed. This feature-remapping step is proposed to enhance the discriminatory power and alleviate the effect of feature variability and image artifacts. Comb filtering is applied to the mapped features as a first protection layer. To provide security guarantees against linkability attacks, index-based locality-sensitive hashing (LSH) is introduced as a second protection layer to transform the comb-filtered mapped real-valued features into maximum-ranked indices. Recognition is performed in the secured domain to accelerate matching and to preserve the user’s privacy. Results show that the proposed scheme provides a large re-issuance ability, protects templates from being inverted, and demonstrates strong unlinkability across different databases. In addition, favorable verification/identification accuracy is obtained and the system satisfies the needs for real-time applications. A global measure value of 0.01 is obtained, and thus, correlation attacks are mitigated. The recognition results for the legitimate scenario are 100% identification accuracy and 0% EER. For the worst case (same token scenario), the corresponding results are 99.752% and 0.31%, respectively.