Blurred frames may happen sparsely in a video sequence acquired by consumer devices such as digital camcorders and digital cameras. In order to avoid visually annoying artifacts due to those blurred frames, this paper presents a novel motion deblurring algorithm in which a blurred frame can be reconstructed utilizing the high-resolution information of adjacent unblurred frames. First, a motion-compensated predictor for the blurred frame is derived from its neighboring unblurred frame via specific motion estimation. Then, an accurate blur kernel, which is difficult to directly obtain from the blurred frame itself, is computed using both the predictor and the blurred frame. Next, a residual deconvolution is applied to both of those frames in order to reduce the ringing artifacts inherently caused by conventional deconvolution. The blur kernel estimation and deconvolution processes are iteratively performed for the deblurred frame. Simulation results show that the proposed algorithm provides superior deblurring results over conventional deblurring algorithms while preserving details and reducing ringing artifacts.