1. An image processing apparatus for processing at least two still images, the apparatus comprising: an image pick up unit which picks up using a single camera said at least two still images in such a manner that each of said at least two still images picked up by the image pick up unit corresponds to each of at least two divided areas of a subject image and the at least two still images successively picked up have shared portions; a synthesis unit which generates a synthesized image from the at least two still images by synthesizing the shared portions; an extraction unit which repeatedly extracts a plurality of images from extraction positions of a plurality of different areas in the synthesized image in a manner that at least a last two of the extraction positions coincide with each other, each of the plurality of different areas straddling two adjacent still images across the shared portions; and a generation unit which generates a compression-encoded moving image in which the synthesized image is scrolled and displayed, by compression-encoding, by use of inter-frame prediction, the plurality of images extracted by the extraction unit from the plurality of different areas in the synthesized image.