The invention discloses a high-definition panoramic video image collecting and processing system. The system comprises an imaging module, an image collecting and processing module and a display screen; the imaging module comprises an aspherical mirror, a camera module and an imaging lens, and the image collecting and processing module comprises a camera interface, an SPI-FLASH, an SDRAM, a displayer interface, a programmable logic gate array, a data signal processor, a clock module, an NOR-FLASH, a DDR2-SDRAM and a power module; the imaging module is electrically connected to the image collecting and processing module, and the image collecting and processing module is electrically connected to the display screen. In the high-definition panoramic video image collecting and processing system, real-time high-definition panoramic video image collection with the horizontal angle of 360 degrees and the vertical angle of 80 degrees can be achieved only by a single camera, and a collected annular image can be spread into a normal image convenient to observe by human eyes in real time and displayed.