Large-scale vision-language pre-training has achieved promising results on downstream tasks. Existing methods highly rely on the assumption that the image-text pairs crawled from the Internet are in perfect one-to-one correspondence. However, in real scenarios, this assumption can be difficult to hold: the text description, obtained by crawling the affiliated metadata of the image, often suffer from semantic mismatch and mutual compatibility. To address these issues, here we introduce PyramidCLIP, which constructs an input pyramid with different semantic levels, and aligns visual elements and linguistic elements in the form of hierarchy via intra-level semantics alignment and cross-level relation alignment. Furthermore, we adjust the objective function by softening the loss of negative samples (unpaired samples) so as to weaken the strict constraint during the pre-training stage, thus mitigating the risk of the model being over-confident. Experiments on three downstream tasks, including zero-shot image classification, zero-shot image-text retrieval and image object detection, verify the effectiveness of the proposed PyramidCLIP. In particular, with the same amount of pre-training data of 15 millions image-text pairs, PyramidCLIP exceeds CLIP by 19.2%/18.5%/19.6% respectively, with the image encoder being ResNet-50/ViT-B32/ViT-B16 on ImageNet zero-shot classification top-1 accuracy. When scaling to larger datasets, the results of PyramidCLIP only trained for 8 epochs using 128M image-text pairs are very close to that of CLIP trained for 32 epochs using 400M training data.