Mobile virtual reality (VR) delivery is gaining increasing attention from both industry and academia due to its ability to provide an immersive experience. However, achieving mobile VR delivery requires ultra-high transmission rate, deemed as a first killer application for 5G wireless networks. In this paper, in order to alleviate the traffic burden over wireless networks, we develop an implementation framework for mobile VR delivery by utilizing caching and computing capabilities of mobile VR device. We then jointly optimize the caching and computation offloading policy for minimizing the required average transmission rate under the latency and local average energy consumption constraints. In a symmetric scenario, we obtain the optimal joint policy and the closed-form expression of the minimum average transmission rate. Accordingly, we analyze the tradeoff among communication, computing and caching, and then reveal analytically the fact that the communication overhead can be traded by the computing and caching capabilities of mobile VR device, and also what conditions must be met for it to happen. Finally, we discuss the optimization problem in a heterogeneous scenario, and propose an efficient suboptimal algorithm with low computation complexity, which is shown to achieve good performance in the numerical results.