An image processing apparatus and method for realizing panorama/waterglass functions, which are capable of reducing the size of a memory and simplifying memory control, are provided. In order to write a plurality of consecutive pixel data into memory devices, and simultaneously to read the plurality of consecutive pixel data from memory devices, the consecutive pixel data are separated into a plurality of first-in first-out (FIFO) buffers having a small size, thereby minimizing the size of a memory. Further, an identical clock signal is used, and the separated FIFOs are used when the consecutive pixel data are written to the memory devices and read from the memory devices, thereby simplifying memory control such as address control. Further, when realizing panorama/waterglass functions, the scaling ratio function is variably set, thereby variably realizing memories having sizes which vary according to the scaling ratio function.