1. An image processing apparatus comprising: a front-most image information storage unit configured to store information relating to a front-most image that is one image of a plurality of compositing target images serving as compositing targets of an imaged image making up an imaged moving picture; a transformation information storage unit configured to store transformation information used for transforming another compositing target image of said plurality of compositing target images with said front-most image as a reference; an image transforming unit configured to transform said plurality of compositing target images sequentially toward said front-most image from said compositing target image positioned at the forefront or last of the temporal axis based on said transformation information; an image compositing unit configured to overwrite-composite said transformed compositing target images sequentially to generate a composited image; and a display control unit configured to display said composited image sequentially.