A computer readable medium storing an image processing program that is executed by a computer which displays a synthesized image of a real world image and a virtual image on a display device, the image processing program causing the computer to execute: acquiring a real world image captured by a real camera; generating a synthesized image by synthesizing the real world image and a virtual image depicting a first virtual object, which is present in a predetermined first virtual region of a predetermined virtual space, in such a manner that the first virtual object is visible behind the real world image through an opening formed by erasing a portion of the real world image and that a second virtual object, which is present in a predetermined second virtual region of the predetermined virtual space, that is different from the first virtual region, appears to be present in front of the real world image, wherein the opening is disposed in a fixed fashion in the virtual space, regardless of whether or not the opening is displayed on the display device, wherein depth judgment is performed, with reference to a virtual camera in the second region, in respect of a boundary surface between the first region and the second region of the virtual space, and the first virtual object and the second virtual object, and on the basis of this depth judgment, a virtual object that is judged to be nearer to the virtual camera than the boundary surface with respect to the real world image is preferentially synthesized over the real world image, and the real world image with respect to a virtual object that is judged to be further from the virtual camera than the boundary surface is preferentially synthesized over said virtual object in the generating the synthesized image; and displaying the synthesized image on the display device. acquiring a real world image captured by a real camera; generating a synthesized image by synthesizing the real world image and a virtual image depicting a first virtual object, which is present in a predetermined first virtual region of a predetermined virtual space, in such a manner that the first virtual object is visible behind the real world image through an opening formed by erasing a portion of the real world image and that a second virtual object, which is present in a predetermined second virtual region of the predetermined virtual space, that is different from the first virtual region, appears to be present in front of the real world image, wherein the opening is disposed in a fixed fashion in the virtual space, regardless of whether or not the opening is displayed on the display device, wherein depth judgment is performed, with reference to a virtual camera in the second region, in respect of a boundary surface between the first region and the second region of the virtual space, and the first virtual object and the second virtual object, and on the basis of this depth judgment, a virtual object that is judged to be nearer to the virtual camera than the boundary surface with respect to the real world image is preferentially synthesized over the real world image, and the real world image with respect to a virtual object that is judged to be further from the virtual camera than the boundary surface is preferentially synthesized over said virtual object in the generating the synthesized image; and displaying the synthesized image on the display device.