The present disclosure provides a panoramic image stitching method, including the steps of acquiring a partial panoramic image taken by each lens; acquiring a first equirectangular rectangular projection graph of each partial panoramic image; performing rotation transformation on the first equirectangular rectangular projection graph of each partial panoramic image to obtain a second equirectangular rectangular projection graph; and adjusting stitching positions of adjacent second equirectangular rectangular projection graphs, and performing stitching operation on the second equirectangular rectangular projection graphs according to the adjusted stitching positions.