1. An image processing apparatus using a smart glass, the apparatus comprising: an extractor to extract a first target to be observed by a user from a first image received from the smart glass and generate a second image using the extracted first target; an information collector to collect information related to the first target; and an image generator to generate a third image using at least one of the second image and the information related to the first target, based on user settings in relation to the first target, wherein, when the apparatus provides a time machine slow motion service to replay a scene having passed quickly in a perimeter of the user in a slow motion, the first target includes at least one of a sound, an event, and a predetermined time interval with respect to the first image, and the third image is a reconstructed image in a time machine slow motion and includes an automatic generation and indexing function with respect to a predetermined event desired by the user or a start event of the slow motion using sound recognition.