A video generation method includes: obtaining a target face image and a source face image; extracting a feature of each of the source face image and the target face image through a face feature encoder, to obtain corresponding source feature codes and target feature codes; generating swapped face feature codes through a face feature exchanger according to the source feature codes and the target feature codes; generating an initial swapped face image through a face generator according to the swapped face feature codes; and fusing the initial swapped face image with the target face image through a face fuser, to obtain a final swapped face image. The face feature encoder performs hierarchical encoding on the face feature to reserve semantic details of a face, and the face feature exchanger performs further processing based on the hierarchical encoding, to obtain hierarchical encoding of a swapped face feature with semantic details.