It is difficult for the conventional image compression method to achieve good compression effect in the underwater acoustic image, because the UWAI has large amount of noise and low correlation between pixel points. In this paper, fractal coding is introduced into UWAI compression, and a fractal coding algorithm based on interest region is proposed according to the importance of different regions in the image. The application problems of traditional quadtree segmentation in UWAIs was solved by the range block segmentation method (...) in the coding process which segmented the interest region into small size and the noninterest region into large size and balanced the compression ratio and the decoded image quality. This paper applies the classification, reduction codebook, and correlation coefficient matching strategy to narrow the search range of the range block in order to solve the problem of the long encoding time and the calculation amount of encoding process is greatly reduced. The experimental results show that the proposed algorithm improves the compression ratio and encoding speed while ensuring the image quality of important regions in the UWAI. (shrink)