An apparatus and a method for color compensation in multi-view video is provided. Video sequences corresponding to a common scene of interest are captured and processed using the master and slave channels respectively. A compensation gain is calculated based on a set of global color ratio statistics obtained from the master and slave channels. The compensation gain is applied to the slave channel. An initial master color correction matrix is combined with a master color matching matrix to obtain a final master color correction matrix. The initial slave color correction matrix is combined with a slave color matching matrix to obtain a final slave color correction matrix. The master and gain-compensated slave channels are color-compensated by applying the final master and final slave color correction matrices to the master and gain-compensated slave channels, respectively.