With the development of modern remote sensing technology, a variety of earth observation satellites could continue to tremendously provide image data of different spatial resolution, time resolution, spectral resolution remote sensing, and the remote sensing data obtained is increasing with great capacity, which forms multi-source image pyramid in the same area. To play the advantages of a variety of remote sensing data, the application of remote sensing image fusion is a very important choice. When remote sensing data is large, fusion is large in computing capacity and time-consuming, so it is difficult to carry out rapid, real-time fusion. However, in some remote sensing applications, such as disaster prevention and relief quick, etc., timely fusion is required. Based on image fusion method of principal component analysis (PCA) and the advantage of parallel computing, a high-efficiency fusion method of multi-spectral image and panchromatic image is proposed. Beijing-1 Micro-satellite is a high-performance small satellite for earth observation，With Beijing-1 Micro-satellite remote sensing images as the experimental data, it is proved that good fusion results of multi-spectral image and panchromatic image can be obtained with the proposed method, and the fusion speed is also fast. At the same time, some measures of improving the efficiency of parallel image fusion are also discussed.