Large Language Models (LLMs) are primarily constrained by memory and bandwidth bottlenecks during deployment. Although Vector Quantization (VQ) has emerged as a promising solution, existing methods incur inference overhead due to massive codebook storage and intensive index lookups. Moreover, these methods typically suffer from non-negligible performance degradation under ultra-low bitwidth regimes. To bridge this gap, we propose Sparse-Compensated Vector Quantization (SCVQ), a novel framework designed for high-efficiency LLM vector quantization. SCVQ introduces a salience-aware weighted K-means clustering scheme with symmetry constraints to reduces codebook size and indexing costs. Central to our approach is a unified structured representation that consolidates outliers, salient weights, and quantization residuals into a single sparse compensation matrix. This design effectively preserves critical model information while leveraging VQ-specific properties to enable efficient custom kernels. Extensive experiments across multiple benchmarks demonstrate SCVQ’s superior performance. Specifically, SCVQ achieves a perplexity of 5.78 on WikiText-2 for LLaMA-2-7B at 2-bit quantization, while delivering a 1.4× end-to-end inference speedup over existing baselines.