We present a novel methodology for the fusion of multiple (two or more) images using the multivariate extension of empirical mode decomposition (MEMD). Empirical mode decomposition (EMD) is a data-driven method which decomposes input data into its intrinsic oscillatory modes, known as intrinsic mode functions (IMFs), without making a priori assumptions regarding the data. We show that the multivariate and multidimensional extensions of EMD are suitable for image fusion purposes. We further demonstrate that while multidimensional extensions, by design, may seem more appropriate for tasks related to image processing, the proposed multivariate extension outperforms these in image fusion applications owing to its mode-alignment property for IMFs. Case studies involving multi-focus image fusion and pan-sharpening of multi-spectral images are presented to demonstrate the effectiveness of the proposed method.