The rapid evolution of video generative models has shifted their focus from producing visually plausible outputs to tackling tasks requiring physical plausibility and logical consistency. However, despite recent breakthroughs such as Veo 3's chain-of-frames reasoning, it remains unclear whether these models can exhibit reasoning capabilities similar to large language models (LLMs). Existing benchmarks predominantly evaluate visual fidelity and temporal coherence, failing to capture higher-order reasoning abilities. To bridge this gap, we propose TiViBench, a hierarchical benchmark specifically designed to evaluate the reasoning capabilities of image-to-video (I2V) generation models. TiViBench systematically assesses reasoning across four dimensions: i) Structural Reasoning & Search, ii) Spatial & Visual Pattern Reasoning, iii) Symbolic & Logical Reasoning, and iv) Action Planning & Task Execution, spanning 24 diverse task scenarios across 3 difficulty levels. Through extensive evaluations, we show that commercial models (e.g., Sora 2, Veo 3.1) demonstrate stronger reasoning potential, while open-source models reveal untapped potential that remains hindered by limited training scale and data diversity. To further unlock this potential, we introduce VideoTPO, a simple yet effective test-time strategy inspired by preference optimization. By performing LLM self-analysis on generated candidates to identify strengths and weaknesses, VideoTPO significantly enhances reasoning performance without requiring additional training, data, or reward models. Together, TiViBench and VideoTPO pave the way for evaluating and advancing reasoning in video generation models, setting a foundation for future research in this emerging field.