An information processing method, a terminal device, and a network device are provided. In one method, a first bit in downlink control information includes two bits, a bit status of the first bit may belong to a first state set or may be a second state, and a terminal device may perform multi-TB scheduling or single-TB scheduling based on the first bit. When the bit status of the first bit belongs to the first state set, the first state set is {01, 10, 11}, N=4, and the downlink control information includes a first field, the bit status of the first bit can be used to determine a quantity L of TBs scheduled by the downlink control information, and a bit status of five bits of the first field can be used to determine HARQ process numbers of the L TBs and information about the L TBs, so that the downlink control information supports scheduling for any quantity of TBs in N TBs, and may indicate any HARQ process number and any NDI information used for each scheduled TB. This improves scheduling flexibility.