In this paper, we propose an algorithm that creates three-dimensional (3D) stereoscopic video from two-dimensional (2D) video encoded by H.264 instead of using two cameras conventionally. Very accurate motion vectors are available in H.264 bit streams because of the availability of a variety of block sizes. 2D/3D conversion algorithm proposed in this paper can create left and right images by using extracted motion information. Image type of a given image is first determined from the extracted motion information and each image type gives a different conversion algorithm. The cut detection has also been performed in order to prevent overlapping of two totally different scenes for left and right images. We show an improved performance of the proposed algorithm through experimental results.