Provided are an image encoding method and apparatus and an image decoding method and apparatus that are capable of canceling a correlation remaining in a residual image by predicting the residual image by using residual pixel values of restored neighboring pixels of a current block and then encoding only the difference between the residual image and a predicted image of the residual image, where the residual image is obtained using an inter color compensation algorithm that predicts one of a plurality of color component images constituting an image by using one of the remnants of the color component images.