In this thesis, a low-complexity video stitching algorithm is proposed. With the proposed algorithm, users can obtain a high-resolution, high quality and seamless 360-degree panoramic video immediately by stitching the images with overlapped region. In a traditional flow of image stitching, most methods of the existing researches were so complex that it is hard to achieve real-time processing. Moreover, it is not suitable for panoramic video applications such as surveillance system. The most presence of works are focused on image stitching, instead of video stitching. Hence, the problems like moving objects and dynamic scene must be considered when stitching the videos. In the proposed design, we propose some novel methods to solve the problem of color difference in image stitching. Moreover, we can also avoid the moving objects in overlapped area by using the dynamic seam scheme. In addition, we remove the drift problem to obtain a better visual effects when displaying the 360 degree panoramic video scenes.