A video signal processing method which includes: performing luminance mapping and color gamut conversion after color space conversion and non-linear space-to-linear space conversion are performed on a to-be-processed video signal, performing linear space-to-non-linear space conversion and color space conversion on the color gamut-converted signal, and then performing saturation mapping on the converted signal, to obtain a video signal that matches a format supported by a display device, so that the to-be-processed video signal can be correctly displayed on the display device.