With the rising interest in research on Large Multi-modal Models (LMMs) for video understanding, many studies have emphasized general video comprehension capabilities, neglecting the systematic exploration into video quality understanding. To address this oversight, we introduce Q-Bench-Video in this paper, a new benchmark specifically designed to evaluate LMMs' proficiency in discerning video quality. a) To ensure video source diversity, Q-Bench-Video encompasses videos from natural scenes, AI-generated Content (AIGC), and Computer Graphics (CG). b) Building on the traditional multiple-choice questions format with the Yes-or-No and What-How categories, we include Open-ended questions to better evaluate complex scenarios. Additionally, we incorporate the video pair quality comparison question to enhance comprehensiveness. c) Beyond the traditional Technical, Aesthetic, and Temporal distortions, we have expanded our evaluation aspects to include the dimension of AIGC distortions, which addresses the increasing demand for video generation. Finally, we collect a total of 2,378 question-answer pairs and test them on 12 open-source & 5 proprietary LMMs. Our findings indicate that while LMMs have a foundational understanding of video quality, their performance remains incomplete and imprecise, with a notable discrepancy compared to human performance. Through Q-Bench-Video, we seek to catalyze community interest, stimulate further research, and unlock the untapped potential of LMMs to close the gap in video quality understanding.