Embodiments of the present disclosure disclose a video image processing method performed at a computing device, including: performing half pixel estimation on a predefined region of a target image frame to obtain an optimal half pixel location having a minimum rate distortion cost; dividing a surrounding area of the optimal half pixel location into four partitions; selecting, among the four partitions according to rate distortion costs respectively of four half pixel locations adjacent to the optimal half pixel location, a first partition used for quarter pixel estimation; performing quarter pixel estimation on the first partition according to the optimal half pixel location, to obtain an optimal quarter pixel location having a minimum rate distortion cost within the first partition; and performing motion compensation to the target image frame by using at least one of the optimal half pixel location and the optimal quarter pixel location as a motion estimation result.