This paper proposes a novel image compression‐encryption scheme based on compressive sensing and bit‐level XOR. In the proposed scheme, the encrypted sequences are generated from a 4‐D hyper‐chaotic Lorenz system and a Logistic system. First, an original image is sampled by a secure block parallel compressive sensing (PCS) scheme. In the PCS phase, a key‐controlled discrete cosine transform sparse basis matrix and a key‐controlled complex Hadamard measurement matrix are employed. Next, the real part and imaginary part of the resulting complex‐valued data are quantized and transformed into bit streams, respectively. After that, the two generated bit streams are combined into one bit stream. Then, the resulting bit stream is further encrypted by a bit‐level XOR operation, where the encrypted key is generated from a chaotic system. The experiment results show the effectiveness and reliability of the proposed joint compression‐encryption scheme. The proposed scheme can not only enhance the security of the compressed image but also improve the reconstructed quality of the compressed image.