This paper proposes a real-time variable-Q non-stationary Gabor transform (VQ-NSGT) system for speech pitch shifting. The system allows for time-frequency representations of speech on variable-Q (VQ) with perfect reconstruction and computational efficiency. The proposed VQ-NSGT phase vocoder can be used for pitch shifting by simple frequency translation (transposing partials along the frequency axis) instead of spectral stretching in frequency domain by the Fourier transform. In order to retain natural sounding pitch shifted speech, a hybrid of smoothly varying Q scheme is used to retain the formant structure of the original signal at both low and high frequencies. Moreover, the preservation of transients of speech are improved due to the high time resolution of VQ-NSGT at high frequencies. A sliced VQ-NSGT is used to retain inter-partials phase coherence by synchronized overlap-add method. Therefore, the proposed system lends itself to real-time processing while retaining the formant structure of the original signal and inter-partial phase coherence. The simulation results showed that the proposed approach is suitable for pitch shifting of both speech and music signals.