Compression methods are being rapidly developed to compress large data files such as images, where data compression in multimedia applications has lately become more vital.With the increasing growth of technology and the entrance into the digital age, a vast amount of image data must be handled to be stored in a proper way using efficient methods usually succeed in compressing images, while retaining high image quality and marginal reduction in image size.Wavelets are a mathematical tool for hierarchically decomposing functions. Image compression using Wavelet Transforms is a powerful method that is preferred by scientists to get the compressed images at higher compression ratios with higher PSNR values.