1. An image processing apparatus, comprising: a processor to control one or more processor-executable units; a reference generator to generate a two-dimensional (2D) reference panoramic image using a central area of each of a plurality of input image frames; and a strip extractor to extract, from an input image frame of the plurality of input image frames, a left-eye strip and a right-eye strip when a similarity of the input image frame compared to the 2D reference panoramic image has a maximum value, wherein the strip extractor extracts the left-eye strip and the right eye strip from the input image frame when an amount of vertical translation in each strip is most similar to a vertical translation of the 2D reference panoramic image, from among the plurality of input image frames.