In this paper, we propose an algorithm that combines computational holographic imaging and its reconstruction with a compression method to reduce the storage burden of digital holograms. The interference patterns are generated by using ray tracing method which can simulate the optical propagation of virtual objects based on phase-shifting digital holography (PSDH). Coding techniques, e.g. Standard baseline Joint Photographic Experts Group (JPEG) and standard JPEG 2000, are applied to compress the computer generated holograms (CGHs). The image of virtual objects is reconstructed by Fresnel approximation with compressed CGHs. In simulations, we use simply defined 3-Dimensional (3D) virtual objects to test the efficiency of these two coding techniques. We show that acceptable reconstruction quality is obtained by using JPEG and JPEG 2000 compression methods. Nevertheless, more efficient compression methods applied on CGHs for complicated virtual objects can be expected in the future.