This paper presents an efficient and lightweight format-compliant selective encryption algorithm for secure JPEG 2000 coding. The proposed encryption scheme is dynamic in nature, where the key is changed for every input image. Furthermore, an amount of 4% of bytes from each packet data is selected to follow the encryption process. Moreover, in order to achieve the desired security, two rounds of substitutiondiffusion processes are applied to the selected bytes. Experimental analysis have proved that this amount of encrypted data ensures a hard image distortion while significantly preserve the communication bandwidth. In addition, compression analysis and extensive security tests have demonstrated: (1) the robustness of the proposed selective encryption approach against the most known types of attacks, (2) the preservation of the main compression properties (i.e., compression friendliness and format-compliant), and most importantly, (3) the efficiency in term of execution time compared to others similar JPEG-2000 images encryption schemes.