The invention provides a lyric special effect display method and device, electronic equipment and a computer readable medium, and relates to the technical field of video processing. The method comprises the steps of acquiring a to-be-displayed image sequence and music data based on lyric special effect display operation of a user, wherein the music data comprise audio data and lyrics; determininga target time point, playing a target image corresponding to the target time point in the image sequence, and determining a target lyric corresponding to the target time point in the lyrics; and adding an animation special effect to the target image, displaying the target lyrics on the target image, and playing audio data corresponding to the target lyrics. According to the embodiment of the invention, the corresponding lyrics, special effects and target images are obtained based on the target time point, the lyrics and the special effects are superimposed on the target images for display, andthe corresponding music is played at the same time, so that when a user listens to the music, the lyrics appear along with the special effects, and the user experience is better.