Most, if not all, of the complexity reduction algorithms for turbo product code are concentrated only on the decoding part in previous literatures. In this paper, we propose very low complexity decoding algorithm for turbo product codes by considering both the encoding and decoding aspects. For the encoding part, a new encoding scheme is presented for turbo product codes to reduce the computing complexity. Performance improvement and further complexity reduction is achieved by modifying the existing decoding algorithm proposed by Pyndiah. Simulation results show that the proposed algorithm can improve the decoding performance while reducing the decoding complexity significantly