The method for processing video signals according to the present invention determines a motion vector list including at least one of spatial motion vectors, temporal motion vectors, and variation vectors as motion vector candidates of a target block, extracts motion vector identifying information which specifies the motion vector candidates used as the predicted motion vectors of the target block, determines the motion vector candidates corresponding to the motion vector identifying information as the predicted motion vectors of the target block, and performs motion compensation on the basis of the predicted motion vectors. The present invention enables accurate motion vector prediction by forming motion vector candidates and induces motion vectors of a target block therefrom, and can enhance coding efficiency by reducing the amount of transmitted residual data.