An image predictive decoding method comprising: extracting, from compressed data, encoded data of indication information, and encoded data of a residual signal, the encoded data of indication information identifying a motion information set utilized for generation of a predicted signal of a target region of a decoding target in a picture, the indication information indicating that the motion information set consists of two pieces of motion information out of a plurality of pieces of motion information associated with neighboring regions (401, 402) neighboring the target region in a frame to be decoded and motion information associated with a region in a decoded previous frame indicating the motion information of a temporally neighboring region located in a preceding frame; wherein each piece of motion information contains a motion vector, a reference picture list identification and a reference picture index, or a motion vector and a frame number associated with the neighboring regions (401, 402); decoding the encoded data of indication information to restore the indication information; deriving for all combinations of two pieces of motion information associated with the neighboring regions (401, 402) between which respective frame numbers identified with respective reference picture list identification and respective reference picture index are different from each other, or between which respective motion vectors are different from each other, a respective motion information set including the two pieces of motion information, in response to restoration of the indication information; selecting from the derived motion information sets, a selected motion information set to be used in generation of the predicted signal of the target region based on the indication information; generating the predicted signal of the target region by combining two signals obtained from reconstructed pictures stored in a memory based on the two pieces of motion information which are included in the selected motion information set; storing the two pieces of motion information utilized for generation of the predicted signal of the target region in the memory; decoding a residual signal of the target region from the encoded data of the residual signal; reconstructing a pixel signal of the target region based on the predicted signal and the restored residual signal; and storing the reconstructed pixel signal as a part of a reconstructed picture. extracting, from compressed data, encoded data of indication information, and encoded data of a residual signal, the encoded data of indication information identifying a motion information set utilized for generation of a predicted signal of a target region of a decoding target in a picture, the indication information indicating that the motion information set consists of two pieces of motion information out of a plurality of pieces of motion information associated with neighboring regions (401, 402) neighboring the target region in a frame to be decoded and motion information associated with a region in a decoded previous frame indicating the motion information of a temporally neighboring region located in a preceding frame; wherein each piece of motion information contains a motion vector, a reference picture list identification and a reference picture index, or a motion vector and a frame number associated with the neighboring regions (401, 402); decoding the encoded data of indication information to restore the indication information; deriving for all combinations of two pieces of motion information associated with the neighboring regions (401, 402) between which respective frame numbers identified with respective reference picture list identification and respective reference picture index are different from each other, or between which respective motion vectors are different from each other, a respective motion information set including the two pieces of motion information, in response to restoration of the indication information; selecting from the derived motion information sets, a selected motion information set to be used in generation of the predicted signal of the target region based on the indication information; generating the predicted signal of the target region by combining two signals obtained from reconstructed pictures stored in a memory based on the two pieces of motion information which are included in the selected motion information set; storing the two pieces of motion information utilized for generation of the predicted signal of the target region in the memory; decoding a residual signal of the target region from the encoded data of the residual signal; reconstructing a pixel signal of the target region based on the predicted signal and the restored residual signal; and storing the reconstructed pixel signal as a part of a reconstructed picture.