Disclosed is an electronic device which a camera, a memory, and a processor that is operatively connected with the camera and the memory. The processor performs photographing on an external object multiple times depending on a second exposure time shorter than a specified first exposure time by using the camera, obtains a first image set including a plurality of first images depending on the multiple photographing, composes the first image set to generate a second image, identifies a specific area around at least one light source corresponding to a light source included in the second image, and generates a third image where an image effect associated with the light source is added to the specific area, by using the second image. Moreover, various embodiment found through the present disclosure are possible.