To provide an operating method of a digital camera and the digital camera in which a reference image effective for generating a high dynamic range image can be obtained by a necessary minimum frequency of photographing when photographing the reference image to be used for generating the high dynamic range image.

In an operating method of a digital camera, a first reference image is obtained by imaging a predetermined subject. Thereafter, a frequency distribution of luminance values is obtained from the first reference image. A feature amount is obtained from the obtained frequency distribution. A second reference image is obtained by imaging the predetermined subject under an exposure condition determined from the obtained feature amount.