Embodiments of the present invention disclose a packet forwarding method and apparatus. The method includes: receiving, by a first scheduler, a target packet; sending the target packet to a destination physical egress port corresponding to the egress port information, and increasing, according to the queue identifier, a queue length of a virtual queue corresponding to the queue identifier by the packet length; sending update information to a second scheduler, where the update information includes that the queue length of the virtual queue is increased by the packet length; and decreasing the queue length of the virtual queue by the packet length according to a bandwidth scheduling result that is corresponding to the update information and sent by the second scheduler. In this way, even if back pressure appears in the destination physical egress port corresponding to the target packet, that the first scheduler sends the target packet is not affected.