This invention provides an image processing method and apparatus for reconstructing an image of a site of a subject. The image processing method comprises: generating a first estimated phase of each shot of multiple shots of the site by sensitivity encoding based on shot data of the corresponding shot obtained for the site; reconstructing a first multiplexed sensitivity encoded image based on the first estimated phase of each shot and shot data of each shot; generating a second estimated phase of each shot of the multiple shots by regularized sensitivity encoding using the first multiplexed sensitivity encoded image; and reconstructing a second multiplexed sensitivity encoded image based on the second estimated phase of each shot and shot data of each shot. In this way, the quality of the finally reconstructed image in magnetic resonance imaging is further improved.