Yes, large image file sizes can negatively impact website performance, leading to slower loading times. Slow-loading pages can result in a poor user experience and lower search rankings. Compressing images helps improve website speed and SEO. Properly optimized images can enhance your website's SEO efforts, improve user experience, and contribute to overall site performance. By following Image SEO best practices, you can ensure that your images are not only visually appealing but also beneficial for search engine visibility and accessibility.