An image compensation device includes a transform unit configured to convert a value obtained by multiplying an intensity of the ambient light by a reflection ratio to a value of the same form as a first gradation value, and acquire a second gradation value, a subtracter to subtract the second gradation value from a third gradation value obtained through the first inverse transform performed on a first gradation value, and acquire a fourth gradation value, a transform unit configured to perform a second inverse transform on the fourth gradation value and acquire a fifth gradation value, and a storage unit configured to store a look-up table in which the fifth gradation value is associated with the first gradation value, as a correction value which should be applied to the display panel in place of the first gradation value.