An adaptive strobe illumination control process for use in a digital image capture and processing system. In general, the process involves: (i) illuminating an object in the field of view (FOV) with several different pulses of strobe (i.e. stroboscopic) illumination over a pair of consecutive video image frames; (ii) detecting digital images of the illuminated object over these consecutive image frames; and (iii) decode processing the digital images in an effort to read a code symbol graphically encoded therein. In a first illustrative embodiment, upon failure to read a code symbol graphically encoded in one of the first and second images, these digital images are analyzed in real-time, and based on the results of this real-time image analysis, the exposure time (i.e. photonic integration time interval) is automatically adjusted during subsequent image frames (i.e. image acquisition cycles) according to the principles of the present disclosure. In a second illustrative embodiment, upon failure to read a code symbol graphically encoded in one of the first and second images, these digital images are analyzed in real-time, and based on the results of this real-time image analysis, the energy level of the strobe illumination is automatically adjusted during subsequent image frames (i.e. image acquisition cycles) according to the principles of the present disclosure.