PSPVC or PSP Video Converter can encode video files to make them compatible with PSP media. Other functions are available though such as advanced video options and downloaders.

Disclaimer: it seems that the software is no longer supported by the publisher - the version linked to this page is the latest to exist. However, it may no longer work on your computer or run with recurring error messages.

What are the key features of PSP Video Converter?

Encoding: Average SP or High-resolution videos can be converted into PSP-compatible formats. Indeed, this software can encode almost all video formats. Selecting the target file size and the aspect settings are options to fill before starting the conversion.
Advanced video options: PSP Video Converter allows converting videos by a fixed or dynamic quantizer. The user can select the pixel range level and motion estimation. Concerning audio, the bitrate and frequency values are also configurable.
Video downloader: this utility is also optimized for transferring video files from the Internet to hard drives. Some video-sharing Websites have icons on the interface so that the download can be direct. Among them, YouTube and Megavideo are compatible.