The invention provides a color image compression and encryption method based on compressed sensing and a double random encryption mechanism. The method comprises the following steps: firstly, decomposing a plaintext image into R, G and B components; the method comprises the following steps: firstly, obtaining a sparse coefficient matrix, then respectively performing DWT conversion on the sparse coefficient matrix, then performing double random position scrambling on the sparse coefficient matrix by using index vectors D1, D2, D3 and D4, then performing compression measurement and quantification on the scrambled matrix, performing simultaneous double random pixel value diffusion among R, G and B components and inside the components on the quantified matrix, and finally obtaining a ciphertext image. Parameters and initial values of a four-wing hyper-chaotic system and a Logistic-Tent chaotic system are generated by using plaintext image information and an external key, and then the parameters and the initial values are substituted into the Logistic-Tent chaotic system to generate a chaotic sequence to construct a measurement matrix; and then substituting the parameters and the initial values into a four-wing hyperchaotic system, and sorting the four generated chaotic sequences to obtain four index vectors which are respectively used for double random position scrambling and diffusion.