A method for processing a video signal according to the present invention comprises the steps of: determining a motion vector list comprising at least one of a spatial motion vector, a temporal motion vector, and a mutation vector as a motion vector candidate of a target block; extracting motion vector identification information for specifying the motion vector candidate to be used as a predicted motion vector of the target block; setting the motion vector candidate corresponding to the motion vector identification information as the predicted motion vector of the target block; and performing motion compensation based on the predicted motion vector. The present invention forms the motion vector candidate and derives the motion vector of the target and derives the motion vector of the target block therefrom, thus enabling a more accurate prediction of the motion vector, and thereby reduces the amount of transmitted residual data and improves coding efficiency.