The paper describes an image stabilization model based on the compensatory Vestibulo-Ocular Reflex. It provides for an anti-shake mechanism that helps ensure that the object being tracked by a camera always remains in focus and does not get blurred due to rotational or translational movements. The model uses memristors in order to develop a multi-directional circuit, which has a function similar to that of the neuron-synapse. Being a simulation of a human reflex action, the model is hardware dependent and uses minimum interaction with the processors. This ensures that the image stabilization response is fast and no undue load is made on the processor. This model has an immense application in robotics, where the motion of the robot's head needs to be taken into account and a compensatory mechanism is required to provide a continuous sharp image for processing.