We propose a blind quadrature imbalance (QI) compensation algorithm based on the statistical properties of I and Q signals in a receiver. The algorithm estimates the QI parameters of a receiver by calculating the mean, variance, and correlation coefficient of I and Q components. Then, the estimated imbalance parameters are adopted to compensate for the QI in the receiver. Simulation results show that the Q factor is considerably optimized by the application of the QI compensation algorithm in an 80-Gb/s Pol-Mux coherent optical quadrature phase-shift keying (CO-QPSK) system. Compared with conventional algorithms, the proposed algorithm exhibits better performance when the phase deviation from QI exceeds +-15o.