This paper presents a compact vector quantizer based on the self-organizing map (SOM), which can fulfill the data compression task for high-speed image sequence. In this vector quantizer, we solve the most severe computational demands in the codebook learning mode and the image encoding mode by a reconfigurable complete-binary-adder-tree (RCBAT), where the arithmetic units are thoroughly reused. In this way, the hardware efficiency of our proposed vector quantizer is greatly improved. In addition, by distributing the codebook into the multi-parallel processing sub-blocks, our design obtains a high compression speed successfully. Furthermore, a mechanism of partial vector-component storage (PVCS) is adopted to make the compression ratio adjustable. Finally, the proposed vector quantizer has been implemented on the field programmable gate array (FPGA). The experimental results indicate that it respectively achieves a compression speed of 500 frames/s and a million connections per second (MCPS) of 28,494 (compression ratio is 64) when working at 79.8 MHz. Besides, compared with the previous scheme, our proposed quantizer achieves a reduction of 8% in hardware usage and an increase of 33% in compression speed. This means the proposed quantizer is hardware-efficient and can be used for high-speed image compression.