Neural networks have been found suitable for virtual analog modeling applications. Several analog audio effects have been successfully modeled with deep learning techniques, using low-latency and conditioned architectures suitable for real-world applications. Challenges remain with effects presenting more complex responses, such as nonlinear and time-varying input-output relationships. This paper proposes a deep-learning model for the analog compression effect. The architecture we introduce is fully conditioned by the device control parameters and it works on small audio segments, allowing low-latency real-time implementations. The architecture is used to model the CL 1B analog optical compressor, showing an overall high accuracy and ability to capture the different attack and release compression profiles. The proposed architecture’ ability to model audio compression behaviors is also verified using datasets from other compressors. Limitations remain with heavy compression scenarios determined by the conditioning parameters.