This paper proposes a novel lossless image compression scheme composed of direction-adaptive prediction and context-based entropy coding. In the prediction stage, we analyze the directional property with respect to the current coding pixel and select an appropriate prediction pixel. In order to further reduce the prediction error, we propose a prediction error compensation technique based on the context model defined by the activities and directional properties of neighboring pixels. The proposed scheme applies a context-based Golomb-Rice coding as the entropy coding since the coding efficiency can be improved by using the conditional entropy from the viewpoint of the information theory. Experimental results indicate that the proposed lossless image compression scheme outperforms the low complexity and high efficient JPEG-LS in terms of the coding efficiency by 1.3% on average for various test images, specifically for the images with a remarkable direction the proposed scheme shows better results.