An image processing apparatus includes a detection unit configured to detect two or more specific objects from a captured image, a first color estimation unit configured to estimate a first light source color from color information about a first specific object among the detected specific objects, a second color estimation unit configured to estimate a second light source color from color information about a second specific object among the detected specific objects, a third color estimation unit configured to estimate a third light source color from color information about an area including other than the detected specific objects, and a calculation unit configured to calculate a white balance correction value to be applied to the captured image by assigning a weight to at least one of the first, second, and third light source colors based on degrees of similarity between the first, second, and third light source colors.