A white balance (WB) compensation method and an electronic apparatus are provided. The method includes the following steps. A first and a second specific color ratios of a predetermined color in a predetermined color temperature are obtained. A first and a second reference color ratios of a reference color in the predetermined color temperature are obtained. An image including pixels is captured, and an exposure index corresponding to the image is obtained. When the exposure index corresponds to the predetermined color temperature, specific pixels are retrieved from the pixels. WB compensation values of the image are calculated according to the specific pixels. An image color temperature of the image is obtained. When the image color temperature corresponds to the predetermined color temperature, the WB compensation values are updated according to the first and second reference color ratios. A WB operation is performed according to the updated WB compensation values.