Disclosed herein are a virtual item transaction method and apparatus based on participation of transaction entities. The virtual item transaction method is performed by a virtual item transaction agent to allow a physical item rights holder, a virtual item creator, and a virtual platform service provider to participate in a virtual item transaction, and includes receiving a virtual item creation request of the physical item rights holder, conducting bidding for virtual item source data corresponding to the virtual item creation request, and receiving an issuance request for a virtual item present in a virtual item issuance list from the virtual platform service provider.