This application relates to a method and apparatus, a storage medium, and a computer device for video encoding and decoding. The video encoding method includes: determining a sub-pixel interpolation mode, the sub-pixel interpolation mode comprising one of a direct sub-pixel interpolation mode or a sampled sub-pixel interpolation mode; acquiring motion estimation pixel precision corresponding to a current video frame; performing sub-pixel interpolation processing on a reference frame corresponding to the current video frame according to a resolution relationship between the current video frame and the reference frame, the motion estimation pixel precision, and the sub-pixel interpolation mode, to obtain a target reference frame; and encoding the current video frame according to the target reference frame, to obtain encoded data corresponding to the current video frame.