This book constitutes the refereed proceedings of the Second International Conference on Wavelet Analysis and Its Applications, WAA 2001, held in Hong Kong, China in December 2001. The 24 revised full papers and 27 revised short papers presented were carefully reviewed and selected from a total of 67 full paper submissions. The book offers topical sections on image compression and coding, video coding and processing, theory, image processing, signal processing, and systems and applications.