Embodiments of the present invention disclose a service multiplexing method. The method includes: sending, by a sending device, a bit block stream of a first service to a receiving device; if the sending device determines to switch from the first service to a second service for service sending, sending, by the sending device, at least one service switching indication bit block to the receiving device; and sending, by the sending device, a bit block stream of the second service to the receiving device. In addition, a service switching indication bit block is inserted between bit block streams that require service switching, to perform service switching, thereby reducing a latency and jitter in a service switching process, and ensuring a low latency during service switching.