Multiplication is a key fundamental function for many error-tolerant applications. Approximate multiplication is considered to be an efficient technique for trading off energy against performance and accuracy. This paper proposes an accuracy-controllable multiplier whose final product is generated by a carry-maskable adder. The proposed scheme can dynamically select the length of the carry propagation to satisfy the accuracy requirements flexibly. The partial product tree of the multiplier is approximated by the proposed tree compressor. An 8×8 multiplier design is implemented by employing the carry-maskable adder and the compressor. Compared with a conventional Wallace tree multiplier, the proposed multiplier reduced power consumption by between 47.3% and 56.2% and critical path delay by between 29.9% and 60.5%, depending on the required accuracy. Its silicon area was also 44.6% smaller. In addition, results from two image processing applications demonstrate that the quality of the processed images can be controlled by the proposed multiplier design.