In the literature, the image compression was implemented using a variety of algorithms; such as vector quantization and subband coding and transform-based schemes. The current problem is that the selection of an image compression algorithm depends on criteria of compression ratio, but the quality of reconstructed images depends on the technology used. Some papers about of the wavelet transform-based coding show this field as an emerging option for image compression with high coding efficiency. It is well known that the new wavelet-based image compression scheme JPEG-2000 has been standardized. This chapter shows the developed novel algorithm executed in parallel using the embedded Zerotree wavelet coding scheme, in which the programs integrate parallelism techniques to be implemented and executed in the many-core system Epiphany III.