An imaging apparatus includes: an image sensor; a pixel output judging processor which judges if a pixel output reaches a saturation level or not; a pixel output compensation processor which performs a compensating operation to compensate a pixel output of a pixel of a specific color which reaches the saturation level; a bit compression convertor which performs a bit compression such that pixel output data, which is once converted from a first bit number to a second bit number, is converted again to the first bit number; a histogram producer which produces a brightness histogram of a photographic subject image; and a calculator which calculates a ratio of the number of pixels of a maximum brightness area to the number of entire pixels from the brightness histogram, wherein the bit compression convertor performs the bit compression based on a bit compression characteristic set on the basis of the ratio of the number of pixels of the maximum brightness area.