Embodiments of the present application disclose a method and apparatus for generating an indoor panoramic video. For each of frames of the fish-eye video, coordinates of each of pixels of this frame in an image coordinate system are converted into coordinates in a spherical coordinate system to obtain a spherical coordinate system-based hemispherical fish-eye image. The frustum parameters of each of the N texture images of N viewing angles for the hemispherical fish-eye image are determined according to a shape of a preset living room. Based on the frustum parameters of each of the N texture images of N viewing angles, the N texture images of N viewing angles for the hemispherical fish-eye image are obtained. The N texture images of N viewing angles are rendered onto the N faces inside the preset living room, to generate the panoramic video image corresponding to the frame. As such, in the embodiment of the present application, a panoramic video image having a stereoscopic effect can be generated. The real-time performance for generating a panoramic video is improved, as no complicated image stitching algorithm is used. In addition, the cost for camera devices can be reduced, as there is no need for several cameras or an aerial camera.