A least-squares reverse-time migration scheme is presented for reflectivity imaging. Based on an accurate reflection modeling formula, this scheme produces amplitude-preserved stacked reflectivity images with zero phase. Spatial preconditioning, weighting and the Barzilai-Borwein method are applied to speed up the convergence of the least-squares inversion. In addition, this scheme compensates the effect of ghost waves to broaden the bandwidth of the reflectivity images. Furthermore, roughness penalty constraint is used to regularize the inversion, which in turn stabilizes inversion and removes high-wavenumber artifacts and mitigates spatial aliasing. The examples of synthetic and field datasets demonstrate the scheme can generate zerophase reflectivity images with broader bandwidth, higher resolution, fewer artifacts and more reliable amplitudes than conventional reverse-time migration. Migration is a key technique for subsurface seismic imaging by repositioning the recorded data to the location where reflection occurs. Although in principle this requires the inverse of a modeling operator, in practice the adjoint of the modeling operator is used instead. There are two main reasons for such use of adjoint migration operators. Firstly, applying adjoint operator requires significantly less calculation than inverse operators, as it is much cheaper to compute the adjoint operator than the inverse operator. Secondly, adjoint operators are unconditionally stable, since only multiplication and addition are involved in their production, whereas division is required to compute an inverse operator. Adjoint operators therefore apply to nearly all migration methods, including reverse-time migration (RTM). In cases where the data is subject to significant aliasing, truncation, noise, or are incomplete, the adjoint operator is not a good approximation to the inverse operator, and will therefore degrade the resolution of the final migrated image. Moreover, even with perfect data, an adjoint operator still produces imperfect images (Claerbout, 1992). Hence, it is desirable to use the inverse operator to migrate seismic data. A generalized inverse operator can be obtained by using a least-squares approach. Nemeth et al. (1999) implemented Kirchhoff migration in the least-squares inversion frame to form a least-squares migration method. The examples demonstrate improved resolution and amplitudes of the images. In addition, the least-squares migration is able to mitigate the side effects of limited aperture, gaps and coarse spatial sampling of the recorded data. To reduce the computational cost of least-squares Kirchhoff migration (Nemeth et al., 1999), Liu et al. (2005) combined leastsquares inversion with wave-path migration, which is faster than Kirchhoff migration, to give a more efficient method