A method for reconstructing a high quality image from undersampled image data is provided. The image reconstruction method is applicable to a number of different imaging modalities. Specifically, the present invention provides an image reconstruction method that incorporates an appropriate prior image into the image reconstruction process. Thus, one aspect of the present invention is to provide an image reconstruction method that requires less number of data samples to reconstruct an accurate reconstruction of a desired image than previous methods, such as, compressed sensing. Another aspect of the invention is to provide an image reconstruction method that produces a time series of desired images indicative of a higher temporal resolution than is ordinarily achievable with the imaging system. For example, cardiac phase images can be produced with high temporal resolution (e.g., 20 milliseconds) using a CT imaging system with a slow gantry rotation speed.