diff --git modules/field/views_handler_field_field.inc modules/field/views_handler_field_field.inc
index baadb3c..47e1fc5 100644
--- modules/field/views_handler_field_field.inc
+++ modules/field/views_handler_field_field.inc
@@ -325,7 +325,8 @@ class views_handler_field_field extends views_handler_field {
   }
 
   function render($values) {
-    if (isset($values->_field_data[$this->field_alias])) {
+    $has_default_image = !empty($this->definition['field_info']['settings']['default_image']);
+    if (isset($values->_field_data[$this->field_alias]) || $has_default_image) {
       // Prepare arguments for rendering based on the objects cached in the
       // pre-render phase and the display options for this field.
       $entity_type = $values->_field_data[$this->field_alias]['entity_type'];
@@ -335,7 +336,7 @@ class views_handler_field_field extends views_handler_field {
 
       // The field we are trying to display is empty, or doesn't exist on
       // this entity.
-      if (empty($display_entity->{$this->definition['field_name']})) {
+      if (empty($display_entity->{$this->definition['field_name']}) && !$has_default_image) {
         return '';
       }