The interference imaging spectrometer (IIS) is an important payload of the Chang’e-1 (CE-1) lunar satellite to achieve the distribution and content analysis of major elements and mineral types on the lunar surface. Due to the different observing conditions, the obtained lunar brightness varied significantly from place to place. Thus, photometric calibration is required to eliminate the radiance difference caused by the different observing conditions. In the present paper, based on the analysis of IIS-2B data (after radiance calibration) of CE-1 satellite, we introduced the improved Lommel-Seeliger model to calibrate the IIS-2B radiance data pixel by pixel. Subsequently, an area adjacent to Apollo16 site was selected as the calibration target, and the bidirectional spectrum for soil sample 62231 was used as a calibration standard to obtain the reflectance from radiance data. Finally, soil sample 71501 was selected to take the accuracy evaluation on the reflectance results. Our work is useful for mineral identification and information extraction, as well as for the mapping of different minerals and rocks distribution on lunar surface.