Most true-amplitude migration algorithms based on one-way wave equations involve corrections of geometric spreading and seismic attenuation. However, few papers discuss the compensation of transmission losses (CTL) based on one-way wave equations. Here, we present a method to compensate for transmission losses using one-way wave propagators for a 2D case. The scheme is derived from the Lippmann-Schwinger integral equation. The CTL scheme is composed of a transmission term and a phase-shift term. The transmission term compensates amplitudes while the wave propagates through subsurfaces. The transmission term is a function of the vertical wavenumbers of two adjacent heterogeneous screens. The phase-shift term is a Fourier finite-difference (FFD) propagator implemented in a mixed domain via Fourier transform. The transmission term can be flexibly incorporated into the conventional phase-shift migration algorithm, i.e., FFD, at every depth step. We analyze the effects of frequency, lateral velocity contrast, and vertical velocity ratio on the accuracy of the presented formulae. Numerical examples from a flat model and a fault model with lateral velocity variations are presented to demonstrate the ability of the proposed scheme for compensation of transmission losses.