<PAGE>   1




   AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 25, 1997
                                                       REGISTRATION NO. 333-

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM S-8
            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                        VALUEVISION INTERNATIONAL, INC.
               (Exact name of registrant as specified in charter)

                                   MINNESOTA
                          (State or other jurisdiction
                               of incorporation)

                                   41-1673770
                                (I.R.S. employer
                             identification number)

                              6740 SHADY OAK ROAD
                          MINNEAPOLIS, MN  55344-3433
                    (Address of principal executive offices)

               1994 EXECUTIVE STOCK OPTION AND COMPENSATION PLAN
                             (Full title of Plan)

                               ROBERT L. JOHANDER
                        VALUEVISION INTERNATIONAL, INC.
                              6740 SHADY OAK ROAD
                          MINNEAPOLIS, MN  55344-3433

                    (Name and address of agent for service)

                                   Copies to:

    WILLIAM M. MOWER, ESQ.                          DAVID T. QUINBY, ESQ.
MASLON EDELMAN BORMAN & BRAND                VICE PRESIDENT AND GENERAL COUNSEL
    3300 NORWEST CENTER                        VALUEVISION INTERNATIONAL, INC.
MINNEAPOLIS, MINNESOTA 55402                          6740 SHADY OAK ROAD
      (612) 672-8200                                EDEN PRAIRIE, MN  55344

<TABLE>
<CAPTION>

                                        CALCULATION OF REGISTRATION FEE
=========================================================================================================================
 TITLE OF EACH                                 PROPOSED MAXIMUM OFFERING      PROPOSED MAXIMUM
 CLASS OF SECURITIES      AMOUNT TO            PRICE                          AGGREGATE                AMOUNT OF
 TO BE REGISTERED         BE REGISTERED        PER SHARE                      OFFERING PRICE           REGISTRATION FEE
-------------------------------------------------------------------------------------------------------------------------
 <S>                             <C>                 <C>          <C>           <C>                            <C>
 Common Stock  ($0.01             750,000            $8.500        (1)          $6,375,000.000                 $1,931.818
 par value per share)     -----------------------------------------------------------------------------------------------
                                  750,000           $10.500        (1)          $7,875,000.000                 $2,386.364
                          -----------------------------------------------------------------------------------------------
                                  500,000            $3.781        (2)          $1,890,500.000                   $572.879
=========================================================================================================================
 TOTAL                          2,000,000                                      $16,140,500.000                 $4,891.061
=========================================================================================================================
</TABLE>                                                                 

(1)  Option Exercise Price.
(2)  Estimated solely for purposes of computing the registration fee in
     accordance with Rule 457(h) and based upon the average of the high and low
     prices of the Common Stock on the Nasdaq National Market on November 19,
     1997.
<PAGE>   2

                                    PART II

  INFORMATION NOT REQUIRED IN THE REGISTRATION STATEMENT

Item 3. Incorporation of Documents by Reference.

        The following documents filed by the registrant with the Securities and
Exchange Commission are incorporated herein by reference and made a part
hereof:

    (a) The registrant's Annual Report on Form 10-K for the fiscal year ending
        January 31, 1997; and

    (b) The registrant's Report on Form 10-Q for the fiscal quarters ended
        April 30, 1997 and July 31, 1997;

    (c) The Registration Statement on Form 8-A with respect to the Company's 
        Common Stock, dated May 22,
        1992.

    All documents subsequently filed by the registrant pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a
post-effective amendment which indicates that all securities offered have been
sold or which deregisters all securities then remaining unsold shall be deemed
to be incorporated by reference in this Registration Statement and to be part
hereof from the date of filing of such documents.

Item 4.  Description of Securities.

    Not applicable.

Item 5.  Interests of Named Experts and Counsel.

    Not applicable.

Item 6.  Indemnification of Directors and Officers.

    The Company is governed by Minnesota Statutes Chapter 302A.  Minnesota
Statutes Section 302A.521 provides that a corporation shall indemnify any
person made or threatened to be made a party to any proceeding by reason of the
former or present official capacity of such person against judgments,
penalties, fines, including, without limitation, excise taxes assessed against
such person with respect to an employee benefit plan, settlements, and
reasonable expenses, including attorney's fees and disbursements, incurred by
such person in connection with the proceeding, if, with respect to the acts or
omissions of such person complained of in the proceeding, such person has not
been indemnified by another organization or employee benefit plan for the same
expenses with respect to the same acts or omissions; acted in good faith;
received no improper personal benefit and Section 302A.255, if applicable, has
been satisfied; in the case of a criminal proceeding, had no reasonable cause
to believe the conduct was unlawful; and in the case of acts or omissions by
persons in their official capacity for the corporation, reasonably believed
that the conduct was in the best interests of the corporation, or in the case
of acts or omissions by persons in their capacity for other organizations,
reasonably believed that the conduct was not opposed to the best interests of
the corporation.

Item 7.  Exemption from Registration Claimed.

    Not applicable.





                                      II-2
<PAGE>   3

Item 8.  Exhibits.

4A.    Restated Articles of Incorporation of the Company (incorporated herein
       by reference to the Company's Registration Statement on Form S-1
       (Registration No. 33-38374).
4B.    Amended and Restated Bylaws of the Company (incorporated herein by
       reference to the Company's Registration Statement on Form S-1
       (Registration No. 33-38374).
 5.    Opinion of Maslon Edelman Borman & Brand, LLP.
23.1   Consent of Arthur Andersen LLP.
23.2   Consent of Maslon Edelman Borman & Brand (contained in Exhibit 5).
25.    Power of Attorney (included on page II-5).


Item 9.  Undertakings.

    The undersigned registrant hereby undertakes:

    (1)  To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement;

         (i)     To include any prospectus required by Section 10(a)(3) of the
    Securities Act of 1933;

         (ii)    To reflect in the prospectus any facts or events arising after
    the effective date of the registration statement (or the most recent
    post-effective amendment thereof) which, individually or in the aggregate,
    represent a fundamental change in the information set forth in the
    registration statement;

         (iii)    To include any material information with respect to the plan
    of distribution not previously disclosed in the registration statement or
    any material change to such information in the registration statement;

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
registration statement is on Form S-3, Form S-8, and the information required
to included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the registrant pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
registration statement.

    (2)  That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.

    (3)  To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.

    The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange Act
of 1934) that is incorporated by reference in the registration statement shall
be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.

    Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable.  In the event that a claim for indemnification
against such liabilities





                                      II-3
<PAGE>   4

(other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful     
defense of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such
issue.





                                      II-4
<PAGE>   5

                                   SIGNATURES

    Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Minneapolis, State of Minnesota, on November 21,
1997.

                                        ValueVision International, Inc.
                                        Registrant

                                        By  s/Robert L. Johander
                                          -------------------------------
                                          Robert L. Johander
                                          Chairman of the Board and Chief
                                          Executive Officer


         We, the undersigned officers and directors of ValueVision
International, Inc., hereby severally constitute Robert L. Johander or Stuart
R. Romenesko, and each of them singly, are true and lawful attorneys with full
power to them, and each of them singly, to sign for us and in our names, in the
capacities indicated below the registration statement filed herewith and any
amendments to said registration statement, and generally to do all such things
in our name and behalf in our capacities as officers and directors to enable
ValueVision International, Inc. to comply with the provisions of the Securities
Act of 1933 as amended, and all requirements of the Securities and Exchange
Commission, hereby ratifying and confirming our signatures as they may be
signed by our said attorneys, or any of them, to said registration statement
and any and all amendments thereto.

         Witness our hands and common seals on the date set forth below.

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below on the 21st day of November, 1997,
by the following persons in the capacities indicated:


<TABLE>
<CAPTION>
                 NAME                   TITLE
                 ----                   -----
<S>                                   <C>
s/ Robert L. Johander            
----------------------------------
Robert L. Johander                      Chairman of the Board, Chief Executive Officer


s/ Stuart R. Romenesko           
----------------------------------
Stuart R. Romenesko                     Vice President, Finance and Chief Financial Officer


s/ Nicholas M. Jaksich           
----------------------------------
Nicholas M. Jaksich                     Chief Operating Officer, Director


s/ Marshall S. Geller            
----------------------------------
Marshall S. Geller                      Director


s/ Robert J. Korkowski           
----------------------------------
Robert J. Korkowski                     Director


s/ Paul D. Tosetti                        
---------------------------------          
Paul D. Tosetti                         Director
</TABLE>





                                      II-5
<PAGE>   6


                                 EXHIBIT INDEX


Exhibit         Item                                            Page
-------         ----                                            ----

  5.            Opinion of Maslon Edelman Borman & Brand, LLP.
                
23.1.           Consent of Arthur Andersen LLP.
                




                                      II-6
[{"type": "S-8", "sequence": "1", "description": "FORM S-8", "secsgml_size_bytes": 14544}]
{"company-data": {"conformed-name": "VALUEVISION INTERNATIONAL INC", "cik": "0000870826", "assigned-sic": "5961", "irs-number": "411673770", "state-of-incorporation": "MN", "fiscal-year-end": "0131"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-40973", "film-number": "97728206"}, "business-address": {"street1": "6740 SHADY OAK RD", "city": "EDEN PRAIRIE", "state": "MN", "zip": "55344-3433", "phone": "6129475200"}, "mail-address": {"street1": "6740 SHADY OAK RAOD", "city": "EDEN PRAIRIE", "state": "MN", "zip": "55344-3433"}}
1

   AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 25, 1997
                                                       REGISTRATION NO. 333-

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM S-8
            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933

                        VALUEVISION INTERNATIONAL, INC.
               (Exact name of registrant as specified in charter)

                                   MINNESOTA
                          (State or other jurisdiction
                               of incorporation)

                                   41-1673770
                                (I.R.S. employer
                             identification number)

                              6740 SHADY OAK ROAD
                          MINNEAPOLIS, MN  55344-3433
                    (Address of principal executive offices)

               1994 EXECUTIVE STOCK OPTION AND COMPENSATION PLAN
                             (Full title of Plan)

                               ROBERT L. JOHANDER
                        VALUEVISION INTERNATIONAL, INC.
                              6740 SHADY OAK ROAD
                          MINNEAPOLIS, MN  55344-3433

                    (Name and address of agent for service)

                                   Copies to:

    WILLIAM M. MOWER, ESQ.                          DAVID T. QUINBY, ESQ.
MASLON EDELMAN BORMAN & BRAND                VICE PRESIDENT AND GENERAL COUNSEL
    3300 NORWEST CENTER                        VALUEVISION INTERNATIONAL, INC.
MINNEAPOLIS, MINNESOTA 55402                          6740 SHADY OAK ROAD
      (612) 672-8200                                EDEN PRAIRIE, MN  55344
CALCULATION OF REGISTRATION FEE
=========================================================================================================================
 TITLE OF EACH                                 PROPOSED MAXIMUM OFFERING      PROPOSED MAXIMUM
 CLASS OF SECURITIES      AMOUNT TO            PRICE                          AGGREGATE                AMOUNT OF
 TO BE REGISTERED         BE REGISTERED        PER SHARE                      OFFERING PRICE           REGISTRATION FEE
-------------------------------------------------------------------------------------------------------------------------
Common Stock  ($0.01             750,000            $8.500        (1)          $6,375,000.000                 $1,931.818
 par value per share)     -----------------------------------------------------------------------------------------------
                                  750,000           $10.500        (1)          $7,875,000.000                 $2,386.364
                          -----------------------------------------------------------------------------------------------
                                  500,000            $3.781        (2)          $1,890,500.000                   $572.879
=========================================================================================================================
 TOTAL                          2,000,000                                      $16,140,500.000                 $4,891.061
=========================================================================================================================
(1)  Option Exercise Price.
(2)  Estimated solely for purposes of computing the registration fee in
     accordance with Rule 457(h) and based upon the average of the high and low
     prices of the Common Stock on the Nasdaq National Market on November 19,
     1997.
2

                                    PART II

  INFORMATION NOT REQUIRED IN THE REGISTRATION STATEMENT

Item 3. Incorporation of Documents by Reference.

        The following documents filed by the registrant with the Securities and
Exchange Commission are incorporated herein by reference and made a part
hereof:

    (a) The registrant's Annual Report on Form 10-K for the fiscal year ending
        January 31, 1997; and

    (b) The registrant's Report on Form 10-Q for the fiscal quarters ended
        April 30, 1997 and July 31, 1997;

    (c) The Registration Statement on Form 8-A with respect to the Company's 
        Common Stock, dated May 22,
        1992.

    All documents subsequently filed by the registrant pursuant to Sections
13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of a
post-effective amendment which indicates that all securities offered have been
sold or which deregisters all securities then remaining unsold shall be deemed
to be incorporated by reference in this Registration Statement and to be part
hereof from the date of filing of such documents.

Item 4.  Description of Securities.

    Not applicable.

Item 5.  Interests of Named Experts and Counsel.

    Not applicable.

Item 6.  Indemnification of Directors and Officers.

    The Company is governed by Minnesota Statutes Chapter 302A.  Minnesota
Statutes Section 302A.521 provides that a corporation shall indemnify any
person made or threatened to be made a party to any proceeding by reason of the
former or present official capacity of such person against judgments,
penalties, fines, including, without limitation, excise taxes assessed against
such person with respect to an employee benefit plan, settlements, and
reasonable expenses, including attorney's fees and disbursements, incurred by
such person in connection with the proceeding, if, with respect to the acts or
omissions of such person complained of in the proceeding, such person has not
been indemnified by another organization or employee benefit plan for the same
expenses with respect to the same acts or omissions; acted in good faith;
received no improper personal benefit and Section 302A.255, if applicable, has
been satisfied; in the case of a criminal proceeding, had no reasonable cause
to believe the conduct was unlawful; and in the case of acts or omissions by
persons in their official capacity for the corporation, reasonably believed
that the conduct was in the best interests of the corporation, or in the case
of acts or omissions by persons in their capacity for other organizations,
reasonably believed that the conduct was not opposed to the best interests of
the corporation.

Item 7.  Exemption from Registration Claimed.

    Not applicable.

                                      II-2
3

Item 8.  Exhibits.

4A.    Restated Articles of Incorporation of the Company (incorporated herein
       by reference to the Company's Registration Statement on Form S-1
       (Registration No. 33-38374).
4B.    Amended and Restated Bylaws of the Company (incorporated herein by
       reference to the Company's Registration Statement on Form S-1
       (Registration No. 33-38374).
 5.    Opinion of Maslon Edelman Borman & Brand, LLP.
23.1   Consent of Arthur Andersen LLP.
23.2   Consent of Maslon Edelman Borman & Brand (contained in Exhibit 5).
25.    Power of Attorney (included on page II-5).

Item 9.  Undertakings.

    The undersigned registrant hereby undertakes:

    (1)  To file, during any period in which offers or sales are being made, a
post-effective amendment to this registration statement;

         (i)     To include any prospectus required by Section 10(a)(3) of the
    Securities Act of 1933;

         (ii)    To reflect in the prospectus any facts or events arising after
    the effective date of the registration statement (or the most recent
    post-effective amendment thereof) which, individually or in the aggregate,
    represent a fundamental change in the information set forth in the
    registration statement;

         (iii)    To include any material information with respect to the plan
    of distribution not previously disclosed in the registration statement or
    any material change to such information in the registration statement;

provided, however, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the
registration statement is on Form S-3, Form S-8, and the information required
to included in a post-effective amendment by those paragraphs is contained in
periodic reports filed by the registrant pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934 that are incorporated by reference in the
registration statement.

    (2)  That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to
be a new registration statement relating to the securities offered therein, and
the offering of such securities at that time shall be deemed to be the initial
bona fide offering thereof.

    (3)  To remove from registration by means of a post-effective amendment any
of the securities being registered which remain unsold at the termination of
the offering.

    The undersigned registrant hereby undertakes that, for purposes of
determining any liability under the Securities Act of 1933, each filing of the
registrant's annual report pursuant to Section 13(a) or 15(d) of the Securities
Exchange Act of 1934 (and, where applicable, each filing of an employee benefit
plan's annual report pursuant to Section 15(d) of the Securities Exchange Act
of 1934) that is incorporated by reference in the registration statement shall
be deemed to be a new registration statement relating to the securities offered
therein, and the offering of such securities at that time shall be deemed to be
the initial bona fide offering thereof.

    Insofar as indemnification for liabilities arising under the Securities Act
of 1933 may be permitted to directors, officers and controlling persons of the
registrant pursuant to the foregoing provisions, or otherwise, the registrant
has been advised that in the opinion of the Securities and Exchange Commission
such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable.  In the event that a claim for indemnification
against such liabilities

                                      II-3
4

(other than the payment by the registrant of expenses incurred or paid by a
director, officer or controlling person of the registrant in the successful     
defense of any action, suit or proceeding) is asserted by such director, officer
or controlling person in connection with the securities being registered, the
registrant will, unless in the opinion of its counsel the matter has been
settled by controlling precedent, submit to a court of appropriate jurisdiction
the question whether such indemnification by it is against public policy as
expressed in the Act and will be governed by the final adjudication of such
issue.

                                      II-4
5

                                   SIGNATURES

    Pursuant to the requirements of the Securities Act of 1933, the Registrant
certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing on Form S-8 and has duly caused this Registration
Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Minneapolis, State of Minnesota, on November 21,
1997.

                                        ValueVision International, Inc.
                                        Registrant

                                        By  s/Robert L. Johander
                                          -------------------------------
                                          Robert L. Johander
                                          Chairman of the Board and Chief
                                          Executive Officer

         We, the undersigned officers and directors of ValueVision
International, Inc., hereby severally constitute Robert L. Johander or Stuart
R. Romenesko, and each of them singly, are true and lawful attorneys with full
power to them, and each of them singly, to sign for us and in our names, in the
capacities indicated below the registration statement filed herewith and any
amendments to said registration statement, and generally to do all such things
in our name and behalf in our capacities as officers and directors to enable
ValueVision International, Inc. to comply with the provisions of the Securities
Act of 1933 as amended, and all requirements of the Securities and Exchange
Commission, hereby ratifying and confirming our signatures as they may be
signed by our said attorneys, or any of them, to said registration statement
and any and all amendments thereto.

         Witness our hands and common seals on the date set forth below.

         Pursuant to the requirements of the Securities Act of 1933, this
Registration Statement has been signed below on the 21st day of November, 1997,
by the following persons in the capacities indicated:
NAME                   TITLE
                 ----                   -----
s/ Robert L. Johander            
----------------------------------
Robert L. Johander                      Chairman of the Board, Chief Executive Officer

s/ Stuart R. Romenesko           
----------------------------------
Stuart R. Romenesko                     Vice President, Finance and Chief Financial Officer

s/ Nicholas M. Jaksich           
----------------------------------
Nicholas M. Jaksich                     Chief Operating Officer, Director

s/ Marshall S. Geller            
----------------------------------
Marshall S. Geller                      Director

s/ Robert J. Korkowski           
----------------------------------
Robert J. Korkowski                     Director

s/ Paul D. Tosetti                        
---------------------------------          
Paul D. Tosetti                         Director
II-5
6

                                 EXHIBIT INDEX

Exhibit         Item                                            Page
-------         ----                                            ----

  5.            Opinion of Maslon Edelman Borman & Brand, LLP.
                
23.1.           Consent of Arthur Andersen LLP.
                

                                      II-6