Using a flash/no-flash image pair, we propose a novel white-balancing technique that can effectively correct the color balance of a complex scene under multiple light sources. In the proposed method, by using multiple images of the same scene taken under different lighting conditions, we estimate the reflectance component of the scene and the multiple shading components of each image. The reflectance component is a specific object color which does not depend on scene illumination and the shading component is a shading effect caused by the illumination lights. Then, we achieve white balancing by appropriately correcting the estimated shading components. The proposed method achieves better performance than conventional methods, especially under colored illumination and mixed lighting conditions.