Fractal Image compression is one of the newer ways of squeezing an image file by systematically analyzing it and saving a smaller set of instruction instead of a description of every pixel that can be used to precisely reconstruct it. The Technique used in this book utilizes the Genetic Algorithm, which greatly decreases the search space for finding the self similarities in the given image. The Domain pool design is one of the dominant issues, which affect coding performance of fractal image compression. In this book, a block-averaging method is used to design an efficient domain pool, which produces high quality image after compression and decompression. The Genetic Algorithm reduces the time complexity irrespective of image quality and Efficient Domain pool attains high quality image. Generally when image compression is carried out, the factors such as size of image, compression ratio, quality and time are considered. The work in this book concentrates on reducing time complexity involved during fractal image compression and also on obtaining high quality compressed images.