MagicVideo-V2 is an end-to-end video generation pipeline that integrates text-to-image models, video motion generators, reference image embedding modules, and frame interpolation modules. Its architecture design enables MagicVideo-V2 to generate visually appealing, high-resolution videos with excellent fidelity and smoothness. Through large-scale user evaluations, it has demonstrated superior performance compared to leading text-to-video systems such as Runway, Pika 1.0, Morph, Moon Valley, and Stable Video Diffusion.