Provided are an apparatus and a method for generating a multi-viewpoint image. The apparatus includes: a camera photographing a stereo image; an image processing unit detecting features from left and right images of the stereo image; a reference image generating unit generating a reference image for viewpoint n by warping an image which is distant between the left image and the right image at viewpoint n based on an n-th viewpoint among N viewpoints that exist between the left image and the right image; and a warping image generating unit calculating a warping equation for viewpoint n by using the reference image and generating a final warping image for viewpoint n by using the calculated warping equation.