A high speed filtering apparatus and a method for high precision restoration of a depth image are provided. The high speed filtering apparatus for high precision restoration of the depth image may include a block setting unit to set a first block including a target pixel, and to set a second block with respect to a central pixel distributed around the target pixel based on a size of the first block, a weight determining unit to determine a pixel weight with respect to each pixel in the second block, and to determine a block weight with respect to the second block by applying the pixel weight, and a processor to filter the target pixel based on the block weight, thereby accurately filtering the target pixel.