Recent advancements in Large Visual Language Models (LVLMs) have gained significant attention due to their remarkable reasoning capabilities and proficiency in generalization. However, processing a large number of visual tokens and generating long-context outputs impose substantial computational overhead, leading to excessive demands for key-value (KV) cache. To address this critical bottleneck, we propose AirCache, a novel KV cache compression method aimed at accelerating LVLMs inference. This work systematically investigates the correlations between visual and textual tokens within the attention mechanisms of LVLMs. Our empirical analysis reveals considerable redundancy in cached visual tokens, wherein strategically eliminating these tokens preserves model performance while significantly accelerating context generation. Inspired by these findings, we introduce an elite observation window for assessing the importance of visual components in the KV cache, focusing on stable inter-modal relevancy modeling with enhanced multi-perspective consistency. Additionally, we develop an adaptive layer-wise budget allocation strategy that capitalizes on the strength and skewness of token importance distribution, showcasing superior efficiency compared to uniform allocation. Comprehensive evaluations across multiple LVLMs and benchmarks demonstrate that our method achieves comparable performance to the full cache while retaining only 10% of visual KV cache, thereby reducing decoding latency by 29% to 66% across various batch size and prompt length of inputs. Notably, as cache retention rates decrease, our method exhibits increasing performance advantages over existing approaches.