A packet processing method and device are disclosed. The method includes: performing code block segmentation on a source packet to obtain a sub-packets; performing error correction encoding on each sub-packet respectively, or performing error correction encoding after respectively adding a CRC sequence to each sub-packet to obtain a error correction encoding sub-packets; performing network encoding on the a error correction encoding sub-packet to obtain b check sub-packets; and performing bit selection operation on the a error correction encoding sub-packets and the b check sub-packets respectively to collectively form an encoded packet; herein a and b are integers greater than 0.