An object of the present invention is to provide an image processing apparatus capable of reducing color material consumption to the maximum while maintaining the hue of an image before and after color conversion to reduce the color material consumption. The present invention is an image processing apparatus having a first lookup table to convert pixel values in a color space into pixel values of color materials, the apparatus including: an acceptable color difference derivation unit configured to derive an acceptable color difference indicating a size of a range of acceptable color difference, which corresponds to each grid point in the color space; a pixel value determination unit configured to determine pixel values of color materials, which corresponds to each of the grid points, based on the derived acceptable color difference; and a lookup table creation unit configured to create a second lookup table to convert pixel values in the color space into the determined pixel values of color materials.