1. A method for B 0 drift and respiratory motion compensation in echo-planar based magnetic resonance imaging (MRI) comprising: obtaining at least two phase images of a target region of a patient from each of a first echo-planar imaging (EPI) acquisition and a second EPI acquisition; generating a first susceptibility map based on the at least two phase images of the target region of the patient obtained from the first EPI acquisition and a second susceptibility map based on the at least two phase images of the target region of the patient obtained from the second EPI acquisition; initializing a smooth polynomial function for modeling the B 0 drift and respiratory motion between the first EPI acquisition and the second EPI acquisition based on the first and second susceptibility maps; and iteratively reconstructing a compensated temperature map showing temperature changes in tissue in the target region of the patient based on the smooth polynomial function to compensate for temperature map inaccuracies due to B 0 drift and respiratory motion.