Disclosed is color conversion method using a color look-up table. The method includes the steps of: generating a color look-up table using information on the difference of each channel before and after a conversion of each color; and converting the colors using the generated color look-up table. The step of generating the color look-up table includes identifying the maximum difference value among several difference values and generating a first compressed table to initially compress the difference values using the maximum difference value. Further, the step of generating the color look-up table further includes determining, using a predetermined algorithm, whether precedence bits can be removed in the difference values stored in the first compressed table, if yes, removing the corresponding checked bits and storing the converted channel value in a separate auxiliary color table and, if no, storing an index relating to the auxiliary color table as the corresponding difference value, and generating a secondary compressed table that secondarily compresses the initially compressed difference value and adding type information that indicates if information stored as each difference value is the difference value or the index.