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With the increasing maturity of ocean bottom seismometer technology in gas hydrate exploration, more and more researchers apply ocean bottom seismometer exploration technology for offshore oil exploration. However, due to the special observation mode of ocean bottom seismometer, it is impracticable to process ocean bottom seismometer data using traditional data processing methods, such as velocity analysis and pre‐stack time migration. This manuscript proposed a new velocity analysis method for ocean bottom seismometer data, which obtains more accurate root‐mean‐square velocity than the existing method. Then we deduced the Kirchhoff pre‐stack time migration formula for ocean bottom seismometer data. Two models demonstrate the correctness of the velocity analysis and migration methods. Finally, the two methods were applied to the actual ocean bottom seismometer data, and the obtained migration profile is consistent well with the profile of towed streamer data in the nearby area. [ABSTRACT FROM AUTHOR]