A packet processing method, a network node, and a system includes obtaining, by a first network node, a first packet that includes a segment list, where the segment list includes a segment identifier of a network node on a path used to forward the first packet, obtaining, by the first network node, a segment identifier of a second network node from the segment list, where the second network node is a next-hop segment node of the first network node on the path, replacing, by the first network node, a destination address of the first packet with the segment identifier of the second network node, and adding a network performance parameter of the first network node to the segment list to generate a second packet, and sending, by the first network node, the second packet to the second network node.