For a long time, the vision community tries to learn the spatio-temporal representation by combining convolutional neural network together with various temporal models, such as the families of Markov chain, optical flow, RNN and temporal convolution. However, these pipelines consume enormous computing resources due to the alternately learning process for spatial and temporal information. One natural question is whether we can embed the temporal information into the spatial one so the information in the two domains can be jointly learned once-only. In this work, we answer this question by presenting a simple yet powerful operator -- temporal interlacing network (TIN). Instead of learning the temporal features, TIN fuses the two kinds of information by interlacing spatial representations from the past to the future, and vice versa. A differentiable interlacing target can be learned to control the interlacing process. In this way, a heavy temporal model is replaced by a simple interlacing operator. We theoretically prove that with a learnable interlacing target, TIN performs equivalently to the regularized temporal convolution network (r-TCN), but gains 4% more accuracy with 6x less latency on 6 challenging benchmarks. These results push the state-of-the-art performances of video understanding by a considerable margin. Not surprising, the ensemble model of the proposed TIN won the $1^{st}$ place in the ICCV19 - Multi Moments in Time challenge. Code is made available to facilitate further research at https://github.com/deepcs233/TIN