Provided are a depth information based optical distortion correction (ODC) circuit and method. The ODC circuit includes a depth acquisition unit acquiring a depth of an image, a grid generation unit dynamically generating a correction grid corresponding to the depth of the image using depth information of the image and a projection matrix, and a distortion correction unit correcting optical distortion in the image using the correction grid. The corrected image can then be stored, transmitted, or otherwise output. The image can be a single static image or photograph or a frame in a video recording.