This document presents an image compression technique using Haar wavelet transforms. It begins with background on the need for image compression due to increasing image sizes. It then outlines the encoder and decoder block diagrams and classifications of compression techniques. The key aspects of the proposed technique are presented: using wavelet transforms to exploit spatial and frequency correlations, applying averaging and differencing operations on rows and columns, thresholding the transformed matrix, and reconstructing the original image. Advantages include conceptual simplicity, speed, memory efficiency and reversibility. Results and future work are discussed before concluding on the benefits of wavelet-based compression.