A method and an apparatus for processing a high dynamic range (HDR) video including a subtitle, where the method includes: encapsulating HDR video data into a video data frame that matches a transmission interface; encapsulating subtitle information into a subtitle information frame that matches the transmission interface; and separately transmitting the video data frame and the subtitle information frame to a display device through the transmission interface, where the video data frame and the subtitle information frame are packets in two types of formats. According to the method provided in this application, content and subtitle information of a dynamic metadata HDR video are separately transmitted to the display device. In this way, the display device can obtain the separated video content and subtitle information, and then separately perform corresponding processing on the HDR video and a subtitle.