The invention discloses a virtual reality content generation method and a playing device. According to the generation method, a first picture is loaded and displayed on a terminal device, an audio effect label is added to at least one first position of the first picture, and the first image and the audio effect label are synthesized and created into a virtual reality packet. The playing device comprises a loading unit used for loading the virtual reality packet, a display unit used for displaying the first picture and a pattern, displaying the first position, in the audio effect label, and an audio playing unit used for playing a first voice in the audio effect label selected by a user. By means of the virtual reality content generation method and the playing device, the virtual reality packet can be conveniently generated by the user himself/herself, the user shares the virtual reality packet with other people and interacts with other people in time, a use and experience threshold of the virtual reality technology is reduced, content capable of being experienced in the technical field is enriched, and popularization and development of the virtual reality technology are promoted. Meanwhile, a commodity mode which is simpler, low in cost and wide in applicability is created for virtual reality content service providers.