Embodiments of this application provide a modulation method and apparatus. The method includes: receiving a code word sequence, where each code word includes N bits, and the code word sequence includes at least a first code word; mapping the code word sequence into M sequences, where each sequence includes N/M bits from the first code word; mapping the M sequences into a symbol sequence, where each symbol is corresponding to M bits, the M bits are respectively from the M sequences, first bits corresponding to N/M first-type symbols are from the first code word, and second bits corresponding to N/M second-type symbols are from the first code word. Thus a signal-to-noise ratio requirement during higher order modulation lowered.