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In this paper, we propose a novel method to mine the commonsense knowledge shared between the video and text modalities for video-text retrieval, namely visual consensus modeling. Different from the existing works, which learn the video and text representations and their complicated relationships solely based on the pairwise video-text data, we make the first attempt to model the visual consensus by mining the visual concepts from videos and exploiting their co-occurrence patterns within the video and text modalities with no reliance on any additional concept annotations. Specifically, we build a shareable and learnable graph as the visual consensus, where the nodes denoting the mined visual concepts and the edges connecting the nodes representing the co-occurrence relationships between the visual concepts. Extensive experimental results on the public benchmark datasets demonstrate that our proposed method, with the ability to effectively model the visual consensus, achieves state-of-the-art performances on the bidirectional video-text retrieval task. Our code is available at https://github.com/sqiangcao99/VCM.