Encryption is a process of hiding significant data so as to prevent unauthorized access and ensure confidentiality of data. It is widely used to transmit data across networks ensuring secure communication. This paper aims at improving the security and efficiency of image encryption by using a highly efficient shuffle based encryption algorithm and an equivalent decryption algorithm based on random values obtained by using pseudorandom number generator. Due to the immense amount of possibilities of instances of the encrypted image which can be generated by shuffling the pixels as a block (or on a pixel by pixel basis), the algorithm proves to be highly impervious to brute force attacks. The proposed algorithm has been examined using multiple analysis methods to support its robustness for achieving good results.