Based on UWB body area network (BAN) and multi-view video coding (MVC) techniques, this paper designs a panoramic surveillance system for wearable computing applications, which focuses on the acquisition, encoding and transmission techniques of the panoramic video. In the wearable panoramic surveillance system, the resources of BAN nodes (such as processing capacity, battery power and transmission bandwidth) are very limited, and high-quality reconstruction of panoramic video is required by the system. Therefore, for the acquisition, encoding and transmission of the panoramic video, this paper proposes a resource-quality control algorithm according to the H.264/MVC sub-frame coding structure, and thus the wearable panoramic surveillance system can achieve low-power, low-delay, high-quality performance.