Mud pulse transmission technology is widely used in logging while drilling (LWD), while its low data transmission efficiency has restricted the development of LWD technology for a long time. In order to improve the equivalent data transmission efficiency of LWD system, a data compression method, namely, Frame Prediction Huffman Coding (FPHC) with a group of frames, is proposed in this paper. Several factors including the data accuracy, the need for real-time transmission, and the existence of transmission errors are comprehensively considered in the proposed method. Through the probability statistical analysis of LWD data, it is proved that the data have a relatively stable probability distribution after predictive coding. In addition, the Huffman code table generated from predictive coding is universally applicable to other LWD data. Through data compression experiments on logging data, it is verified that the proposed method has higher compression efficiency compared with Huffman coding, Lempel-Ziv-Welch algorithm, adaptive Huffman coding and adaptive arithmetic coding. This lossless compression method will have a good application prospect because of its ability to prevent error diffusion, simple implementation and easy to be embedded in down-hole equipment.