A video stream playback method adapted to a video playback device with a network function is provided. The method includes defining a correspondence between a first virtual channel and a first video streaming service. A first application program for using the first video streaming service is installed in the video playback device. The method also includes automatically linking a plurality of independent video streams provided by the first video streaming service by using the first application program to establish a first video stream list. The first video stream list includes a uniform resource locator (URL) of each video stream. The method further includes automatically obtaining the video streams from the first video streaming service according to the first video stream list and continuously playing the video streams by using the first application program when the video playback device receives a first channel select command corresponding to the first virtual channel.