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 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 obtained from the first EPI acquisition and a second susceptibility map based on the at least two phase images 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 based on the smooth polynomial function.