Abstract: In Masked Image Modeling (MIM), two primary methods exist: Pixel MIM and Latent MIM, each utilizing different reconstruction targets, raw pixels and latent representations, respectively. Pixel MIM tends to capture low-level visual details such as color and texture, while Latent MIM focuses on high-level semantics of an object. However, these distinct strengths of each method can lead to suboptimal performance in tasks that rely on a particular level of visual features. To address this limitation, we propose PiLaMIM, a unified framework that combines Pixel MIM and Latent MIM to integrate their complementary strengths. Our method uses a single encoder along with two distinct decoders: one for predicting pixel values and another for latent representations, ensuring the capture of both high-level and low-level visual features. We further integrate the $\texttt{[CLS]}\$ token into the reconstruction process to aggregate global context, enabling the model to capture more semantic information. Extensive experiments demonstrate that PiLaMIM outperforms key baselines such as MAE, I-JEPA and BootMAE in most cases, proving its effectiveness in extracting richer visual representations.