In one embodiment, an image processor is configured to obtain a plurality of phase images for each of first and second depth frames. For each of a plurality of pixels of a given one of the phase images of the first depth frame, the image processor determines an amount of movement of a point of an imaged scene between the pixel of the given phase image and a pixel of a corresponding phase image of the second depth frame, and adjusts pixel values of respective other phase images of the first depth frame based on the determined amount of movement. A motion compensated first depth image is generated utilizing the given phase image and the adjusted other phase images of the first depth frame. Movement of a point of the imaged scene is determined, for example, between pixels of respective n-th phase images of the first and second depth frames.