This　paper　introduces　the　general　process　and　characteristics　of　image　fusion,　investigates　common　algorithms　of　pixel　level　fusion　by　comparing　five　basic　methods　of　the　image　fusion.　The　pixel　level　fusion　experiments　of　the　multispectral　image　and　panchromatic　image　are　performed　by　using　the　five　methods.　Finally,　we　analysis　the　experimental　result,　more　detailed　information　of　wavelet　and　IHS　transform　based　image　fusion　is　given,　and　the　fusion　of　panchromatic　and　multispectral　images　has　the　best　visual　effect.　©2009　IEEE.