Disclosed herein are a method and apparatus for fusing a panchromatic image and an infrared image. The apparatus includes: an image acquisition unit configured to acquire a panchromatic image and an infrared image having the same coordinate system; a filtering unit configured to generate a low-frequency panchromatic image by performing low-frequency filtering on the panchromatic image, and to generate a high-frequency panchromatic image by subtracting the low-frequency panchromatic image from the panchromatic image; an image correction unit configured to generate a corrected high-frequency panchromatic image, to construct a linear regression equation, and to generate a corrected infrared image by using the constructed linear regression equation; a scaling factor determination unit configured to determine the ratio at which the panchromatic image and the infrared image are fused together; and a fused image generation unit configured to generate a fused image through multiplication and addition.