The embodiment of the invention provides a live data processing method and device. The method comprises the following steps: acquiring live return information in the process of performing the live based on a target application, wherein the live return information is used for feeding back the information except the live video data, and comprises bullet screen data; rendering a display image obtained by overlapping an application interface of the target application and the live return information, and showing a live interface according to the display image; generating the live video data with the bullet screen data according to the live interface, and uploading the live video data. Therefore, the live video data with the bullet screen and other data can be directly generated at an anchor side in live without performing the synthesis of live video and bullet screen and other live return information at a server-side, and the time delay is reduced.