The present disclosure relates to a video encoding/decoding method and apparatus that account for low frequency components. The method includes generating a reconstructed block by performing a predictive encoding on a current block and generating encoded image data, and generating encoded low frequency data by encoding a low frequency component of an error block generated through subtraction of the reconstructed block from the current block, thereby improving the compression efficiency while reducing blocking effects due to transform and quantization operations by encoding images accounting for low frequency components.