Motion, scene and object are three primary visual components of a video. In particular, objects represent the foreground, scenes represent the background, and motion traces their dynamics. Based on this insight, we propose a two-stage MOtion, Scene and Object decomposition framework (MOSO) for video prediction, consisting of MOSO-VQVAE and MOSO-Transformer. In the first stage, MOSO-VQVAE decomposes a previous video clip into the motion, scene and object components, and represents them as distinct groups of discrete tokens. Then, in the second stage, MOSO-Transformer predicts the object and scene tokens of the subsequent video clip based on the previous tokens and adds dynamic motion at the token level to the generated object and scene tokens. Our framework can be easily extended to unconditional video generation and video frame interpolation tasks. Experimental results demonstrate that our method achieves new state-of-the-art performance on five challenging benchmarks for video prediction and unconditional video generation: BAIR, RoboNet, KTH, KITTI and UCF101. In addition, MOSO can produce realistic videos by combining objects and scenes from different videos.