The authors, who are also friends, said they hoped the text would provide “a tool of reconciliation” between Christians and Muslims.
Some 3,000 parallels between the Bible and Quran are demonstrated in the book, which has a split-page format.
Safi Kaskas, the Muslim co-author of the new book, said in a statement: “Most of the tension that exists in the West in the post-9/11 era is because Christians fear Muslims and their book, the Quran.
"This new translation was designed to be a tool of reconciliation between Muslims and the followers of other Abrahamic religions [Christianity and Judaism].
“In an environment of tension, working for reconciliation and peace is long overdue. If we are to prevent a much larger disaster from happening, we must work for a better understanding.”
He said some translations had wrongly given the impression Islam was intolerant of other faiths, saying this was not an accurate interpretation of the holy text.
Mr Kaskas started the project with Dr David Hungerford, a Christian, 10 years ago. The book is part of a project by Bridges to Common Ground, an organization that aims to reduce Islamophobic attitudes among Christians.
Dr Hungerford said: “We hope this translation will lead people to understand that while there are differences between Islam and Christianity, there is also a tremendous bridge between Muslims and Christians."
There are more than 100 mentions of Jesus in the text – who is known as Esa in the Quran.
“In today’s society, no one talks about this common ground among the Abrahamic faiths, much of which is centered around the person of Jesus of Nazareth," Dr Hungerford added.