A video/image processing apparatus includes a storage module, a motion estimation module, and a plurality of video/image processing blocks. The storage module is arranged for storing a plurality of images. The motion estimation module is coupled to the storage module, and arranged for retrieving the images from the storage module, and generating motion vectors according to the images. The video/image processing blocks are coupled to the motion estimation module, and arranged for performing a plurality of different video/image processing operations, respectively, wherein each of the video/image processing blocks receives the motion vectors generated from the motion estimation module, and refers to the received motion vectors to perform a designated video/image processing operation. By way of example, the video/image processing operations may include frame rate conversion, video decoding, noise reduction, deinterlacing, super resolution processing, video stabilization, multi-frame image noise reduction, camera stabilization, high dynamic range (HDR) processing, and/or rolling-shutter reduction.