A compressed light field imaging system is described. The light field 3D data is analyzed to determine optimal subset of light field samples to be (acquired) rendered, while the remaining samples are generated using multi-reference depth-image based rendering. The light field is encoded and transmitted to the display. The 3D display directly reconstructs the light field and avoids data expansion that usually occurs in conventional imaging systems. The present invention enables the realization of full parallax 3D compressed imaging system that achieves high compression performance while minimizing memory and computational requirements.