A system and method for providing channel balancing and room tuning for a multi-channel audio surround sound speaker system passes source audio to automatically configured multi-channel compensation filters to provide equalization on a per channel basis for speakers having differing response characteristics. The speakers correspond to each of the surround sound channels. To automatically configure the multi-channel compensation filters, a controller generates common room tuning deviation data based on the frequency response characteristic data of each of the speakers. In addition, the system and method also generates room corrected channel deviation data for each channel by correcting a selected speaker response based on room tuning compensation requirement data derived from the common room tuning deviation data. Automatic channel balancing is provided by determining channel balancing compensation requirement data based on the corrected channel deviation data for each channel.