Recent years have seen tremendous increase in the production, transportation and storage of color images. A new method for lossless image compression of color images is presented in this paper. This method is based on wavelet transform and support vector machines (SVM). The wavelet transform is applied to the luminance (Y) and chrominance (Cb, Cr) components of the original color image. Then SVM regression dependence could learn from training data and compression achieved using less training point (support vector) to represent the original data and eliminate redundancy. In addition, an effective entropy coder based on run-length and arithmetic encoders is used to encode vector and weight support. Our compression algorithm is applied to a test set of images of size 1024 * 1024 encoded on 24 bits. To evaluate our results, we calculated the peak signal noise ratio (PSNR) and their ratios datasets compression (CR). Experimental results show that the performance of the compression algorithm to achieve much improvement.