An image processing apparatus for applying a color balance correction to input image data, comprises a detection unit which detects an object included in the image data; an object color calculation unit which calculates an object color as a color of the object; an acquisition unit which acquires a highlight color in the image data; a calculation unit which calculates a correction value for the object color and the highlight color based on a relative positional relationship between the object color and the highlight color on a color space; and a color balance correction unit which applies the color balance correction to the highlight color and the object color using the correction value.