This application relates to the field of communication technologies, and provides a packet processing method, apparatus, and system, and a computer-readable storage medium. The method is applied to a user plane (UP) device of a virtual broadband network gateway. The UP device receives a first packet sent by a control plane (CP) device, where the first packet carries first indication information, and the first indication information indicates the UP device to perform online management on a terminal device that accesses a network through a virtual broadband network gateway; determines a proxy lease of a first terminal device based on the first packet, where the first terminal device is the terminal device that accesses the network through the virtual broadband network gateway; and performs online management on the first terminal device based on the first indication information and the proxy lease of the first terminal device.