Abstract: Based on guided filter, a new multi-exposure image fusion algorithm which can improve edge characteristics is proposed. Firstly, preliminary fusion weights are obtained according to the contrast and saturation of the images; secondly, the content-aware factor is introduced to the guided filter algorithm; and lastly, the original fusion weights are modified in order to get the final fusion weights. Experimental results show that fusion images using this method can preserve edge sharpness better, increase resolution of the images extraordinarily and have more details especially in the transition regions. Compared with other algorithms, this method has better subjective visual fusion effects and objective performance indicators.