A graph refactorization method is provided, and relate to the field of communication technologies, to implement parallel graph processing with load balancing, low communication costs, and short execution time. The method includes: A first machine selects a first vertex from a local vertex set of a subgraph (S801). If a degree of the first vertex is less than or equal to a first preset threshold, the first machine fuses the first vertex and an adjacent vertex within a preset quantity of hops of the first vertex in the local vertex set into a super-vertex (S802). If the degree of the first vertex is greater than or equal to a second preset threshold, the first machine copies the first vertex to obtain N sub-vertices, and divides edges of the first vertex in the subgraph of the first machine into N parts to respectively connect to the N sub-vertices (S803).