In order to solve the problem that more redundant pixels and less consideration of picture quality of the region of interest (ROI) when the 360° panoramic video is encoded in an equirectangualr projection plane. A new ROI-based 360° panoramic video coding method is proposed, which uses the current coding residual frame information to get and guide the next frame coding. The pixel redundancy at each latitude is calculated by the mapping function from the sphere to the projection plane, which is used as the adjustment factor of quantization parameters of non-ROI. The quantization parameters of ROI and non-ROI are utilized to determine each frame's encoding parameters in largest coding unit level. The experimental results show that, compared with the HEVC encoder, for the same weighted spherical peak signal-to-noise ratio and spherical peak signal-to-noise ratio, the proposed approach can achieve an average rate reduction of about 2.46% and the most of 4.98%, for the same coding rate, it can achieve an average video quality increased 0.145 dB. The content of ROI improves obviously compared with the related representative methods.