  We determine $\Lambda_{\bar{\textrm{MS}}}^{(n_f=2)}$ by fitting perturbative
expressions for the quark-antiquark static potential to lattice results for QCD
with $n_f=2$ dynamical quark flavors. To this end we use the perturbative
static potential at the presently best known accuracy, i.e. up to ${\cal
O}(\alpha_s^4)$, in momentum space. The lattice potential is computed on a fine
lattice with $a \approx 0.042 \, \textrm{fm}$ in position space. To allow for a
comparison and matching of both results, the lattice potential is transformed
into momentum space by means of a discrete Fourier transform. The value of
$\Lambda_{\bar{\textrm{MS}}}^{(n_f=2)}$ is extracted in momentum space. All
sources of statistical and systematic errors are discussed. The uncertainty in
the value of $\Lambda_{\bar{\textrm{MS}}}^{(n_f=2)}$ is found to be smaller
than that obtained in a recent position space analysis of the static potential
based on the same lattice data.
