In a digital printing system, it is necessary to equip with a high-performance image codec module for the requirement of high image resolution and processing speed. A DWT (Discrete Wavelet Transform)-based image encoding and decoding technique that is commonly adopted for high-performance image application is proposed. A parallel processing mode, that uses an arbiter to make a continuous data propagation between DWT and multiple Entropy Coders, is the kernel idea of the technique. In this scheme, the role of the arbiter is to decide the propagation path of the Code Block data between DWT and one of the Entropy Coders. In addition, an efficiently managed strategy of the Code Block is another crucial design for improving the encoding and decoding speed. As a result, a high-performance hardware codec and speed-tuning module are implemented. The flexibility and high performance can be achieved with this implementation by manipulating optimal balance between cost and performance in various applications of image codec.