A spatio-temporal autoregressive model is proposed in this paper to address the problem of frame rate up conversion. Every pixel in a skipped frame is generated as a linear combination of pixel values from forward and backward reference frames. At the beginning of the presented scheme, the coarse model parameters are computed according to the given initial pixel values for skipped frames. Then the coarse parameters are refined by an iteration process, during which we also interpolate the original low rate frames by the two closest generated skipped frames to derive more accurate parameters. Experimental results verify that the proposed algorithm significantly improves both the subjective and objective quality of the interpolated frames.