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A fast and effective image fusion method is proposed for creating a highly informative fused image through merging multiple images. The proposed method is based on a two-scale decomposition of an image into a base layer containing large scale variations in intensity, and a detail layer capturing small scale details. A novel guided filtering-based weighted average technique is proposed to make full use of spatial consistency for fusion of the base and detail layers. Experimental results demonstrate that the proposed method can obtain state-of-the-art performance for fusion of multispectral, multifocus, multimodal, and multiexposure images.