Multilevel image thresholding and image clustering, two extensively used image processing techniques, have sparked renewed interest in recent years due to their wide range of applications. The approach of yielding multiple threshold values for each color channel to generate clustered and segmented images appears to be quite efficient and it provides significant performance, although this method is computationally heavy. To ease this complicated process, nature inspired optimization algorithms are quite handy tools. In this paper, the performance of Chimp Optimization Algorithm (ChOA) in image clustering and segmentation has been analyzed, based on multilevel thresholding for each color channel. To evaluate the performance of ChOA in this regard, several performance metrics have been used, namely, Segment evolution function, peak signal-to-noise ratio, Variation of information, Probability Rand Index, global consistency error, Feature Similarity Index and Structural Similarity Index, Blind/Referenceless Image Spatial Quality Evaluatoe, Perception based Image Quality Evaluator, Naturalness Image Quality Evaluator. This performance has been compared with eight other well known metaheuristic algorithms: Particle Swarm Optimization Algorithm, Whale Optimization Algorithm, Salp Swarm Algorithm, Harris Hawks Optimization Algorithm, Moth Flame Optimization Algorithm, Grey Wolf Optimization Algorithm, Archimedes Optimization Algorithm, African Vulture Optimization Algorithm using two popular thresholding techniques-Kapur’s entropy method and Otsu’s class variance method. The results demonstrate the effectiveness and competitive performance of Chimp Optimization Algorithm.