Disclosed herein are a method and apparatus for luminance-adaptive opto-electrical transfer and luminance-adaptive electro-optical transfer. For video transmission and compression, opto-electrical transfer and electro-optical transfer are required. The surround luminance and luminance range of an image are taken into consideration when performing opto-electrical transfer and electro-optical transfer. An opto-electrical transfer function may be derived based on a contrast sensitivity function that takes into consideration the surround luminance of an image. Also, parameters relevant to surround luminance may be signaled from an encoding apparatus to a decoding apparatus, and an electro-optical transfer function may be derived based on the parameters.