The invention discloses a code rate regulating method based on a cloud game. The method comprises the steps that the first moment when a client side collects first operation data and the second momentwhen the client side sends the first operation data to a server are determined; the third moment when the client collects second operation data and the fourth moment when theclient side sends the second operation data to the server are determined; according to the first moment and the third moment, a first time difference is calculated; according to the second moment and the fourth moment, a second time difference is calculated; according to the first time difference and the second time difference, the current network condition is determined, and according to the current network condition, the code rate of a cloud game display picture is correspondingly regulated. The invention further discloses a code rate regulating device based on the cloud game and a storage medium.