An image processing method and an apparatus using the same are provided. The method includes the following steps: deriving a global motion vector between a first image and a second image and providing the first image, the second image and the global motion vector to a first application process, wherein the first image is the previous image of the second image; deriving a first compensated image and a second compensated image by performing a lens distortion compensation process on the first image and the second image respectively; deriving a compensated global motion vector corresponding to the first compensated image and the second compensated image by transforming and correcting the global motion vector; and providing the first compensated image, the second compensated image, and the compensated global motion vector to a second application process.