The invention discloses a video stitching server, and a panoramic live broadcasting system in a mobile state. The system comprises a video acquisition terminal, a network access module, the video stitching server, and a video playing server, wherein the video acquisition terminal is used for carrying out 360-degree panoramic video frame acquisition through N cameras, and sending video frames to the video stitching server through the network access module, and N is a natural number no smaller than 2; and the video stitching server is used for stitching the video frames acquired by the cameras into a panoramic video frame, and pushing the panoramic video frame to the video playing server for playing. The video stitching server and the system provided by the invention can be directly applied to panoramic virtual reality live broadcasting in an outdoor motion scene; data to be stitched is transmitted to the server, so that complex computation consuming computation resources is completed by the server; and a front-end module of the system is light and handy, so as to be easily carried and conveniently moved.