Apparatus and method for correcting a tone of a panoramic image. An image processing apparatus may acquire, from an overlapping region of a left image and a right image, ghost information based on an optimal threshold and a cost map in which a similarity between the left image and the right image is reflected, may generate a tone correction map based on a global tone correction function generated using the ghost information in the overlapping region, and based on a local tone correction level generated using local information of an optimal seam, and may correct the left image and the right image using a final tone correction map generated by applying, to the tone correction map, a weighting based on the left image and a weighting based on the right image.