Using a first lookup table used to convert color data on a device-independent color space into color data on a device-dependent color space, and a second lookup table used to convert the color data on the device-dependent color space into color material data corresponding to a plurality of color print materials, the image processing apparatus acquires output values using the first lookup table in accordance with input values the number of which is larger than the number of grid points of the first lookup table, acquires output values using the second lookup table, as input values, the output values acquired, and generates a third lookup table corresponding to the predetermined number of input values which is larger than the number of grid points of the first lookup table in accordance with the output values acquired.