The invention discloses an underwater video camera with a storage function. The underwater video camera is composed of a pressing cover, a lens, a sealing ring, a cylinder, a camera, a hard disk video recorder, a signal processing circuit, an installation bracket, a rear base, a data watertight socket, a power supply watertight socket and an underwater cable. The cylinder presents to be a cylindrical body. The internal part of the cylinder is a cavity. The upper and lower ends of the cylinder are respectively provided with through holes. The through hole of the upper end of the cylinder is connected with the pressing cover in a sealing way, and the through hole of the lower end of the cylinder is connected with the rear base in the sealing way. The cavity in the internal part of the cylinder is internally provided with the camera, the hard disk video recorder, the signal processing circuit and the installation bracket respectively. According to the underwater video camera, after the hard disk video recorder is interconnected with the installation bracket, the installation bracket is fixed on the rear base which is provided with the data watertight socket and the power supply watertight socket. Underwater camera shooting contents can be stored without real-time transmission of frames to the ground so that the underwater video camera has functions of being light and suitable for working under complex environment conditions. DC power supply is adopted so that transportation, operation and use are convenient.