Provided are an apparatus and a method for generating an image with reduced blown-out highlight regions. The apparatus includes an image processing section that inputs a RAW image corresponding to an output image of an imaging device. The image processing section performs a demosaicing process, that generates RGB images having all pixels set to respective colors of RGB by demosaicing the RAW image and performs a white-balancing process that white-balances the respective RGB images resulting after the demosaicing process. The image processing section performs a pixel value estimation process that performs a G pixel value estimation process in a saturated pixel region of the G image resulting after the white balancing process by using pixel values of the R and B images resulting after the white balancing process at the same pixel position as the G pixel subject to pixel value estimation.