With the continuous development of space-borne remote sensing technology, the remote sensing data has become increasingly large. At present, the limited bandwidth of communication can not meet the demand of remote sensing image data transmission. Therefore, the research of image compression technology for space-borne applications is of great significance to the development of space application technology. It is difficult to meet the performance requirements by adopting traditional single-core DSP (Digital Signal Processor), and it is difficult to meet the power demand by adopting Field-Programmable Gate Array (FPGA). In recent years, with the development of hardware technology, multi-core DSP technology has matured, and there are mature multi-core DSP image compression solutions in missile-borne scene for space-borne application reference. Based on multi-core DSP, TI's C6678 multi-core floating-point DSP platform, this paper constructed a parallel image compression system and made full use of the hardware resources of multi-core DSP. Considering the compression of space-borne remote sensing image has a high demand on compression quality, compression speed and other indicators, the system took the JPEG2000 standard as the image compression standard, using the main core responsible for external communication and internal task allocation, and using slave core to implement JPEG2000 image compression of the design. Test results show that the system is stable and reliable, and the overall compression performance is excellent, to meet the performance requirements of space-borne remote sensing image compression system.