An inter-prediction method and apparatus uses a reference frame generated based on deep learning. In the inter-prediction method and apparatus, a reference frame is selected, and a virtual reference frame is generated based on the selected reference frame. A reference picture list is configured to include the generated virtual reference frame, and inter prediction for a target block is performed based on the virtual reference frame. The virtual reference frame may be generated based on a deep-learning network architecture, and may be generated based on video interpolation and/or video extrapolation that use the selected reference frame.