Among many biometric recognition technologies, finger print recognition is very popular for personal identification due to the uniqueness, universality and invariance. Large volume of fingerprint is collected and stored everyday in a wide range of applications. In this paper, the compression of these data may become imperative under certain circumstances due to the large amounts of data involved. This paper compares different compression standards like JPEG, JPEG-2000, WSQ, K-SVDetc. A new compression standards based on sparse representation also introduced. The experiments demonstrate that this is efficient compared with several competing compression techniques especially at high compression ratios.