A method and an apparatus for generating a panorama are provided. In the present method, a plurality of raw images of a scene is captured. A coarse motion estimation is executed on the raw images to obtain a coarse motion estimation result of the scene. In the meantime, the raw images inside a window of interest (WOI) are cropped to obtain a plurality of cropped images, and a fine motion estimation is executed on the cropped images according to the coarse motion estimation result of the scene, so as to obtain a fine motion estimation result of the scene. The raw images are stitched and blended according to the fine motion estimation result, so as to generate the panorama.