A high-efficiency video coding method using matching pursuits, which is a waveform coding technique, has recently been proposed. In this method, the motion compensated prediction error image is encoded by applying matching pursuits. In the present paper, we propose a matching pursuits coding method that encodes the sub-band images derived from motion compensated prediction error images. The complexity of the proposed method is reduced compared to the full-band matching pursuits because of lighter inner product computation due to reduction of both the resolution of the sub-band image and the basis function length of the dictionary. We evaluated the coding performance and computational complexity of the proposed method via computer simulations.