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In this work, we revisit the classical stochastic jump-diffusion process and develop an effective variant for estimating visibility statuses of objects while tracking them in videos. Dealing with partial or full occlusions is a long standing problem in computer vision but largely remains unsolved. In this work, we cast the above problem as a Markov Decision Process and develop a policy-based jump-diffusion method to jointly track object locations in videos and estimate their visibility statuses. Our method employs a set of jump dynamics to change object’s visibility statuses and a set of diffusion dynamics to track objects in videos. Different from traditional jump-diffusion process that stochastically generates dynamics, we utilize deep policy functions to determine the best dynamic for the present state and learn the optimal policies using reinforcement learning methods. Our method is capable of tracking objects with full or partial occlusions in crowded scenes. We evaluate the proposed method over challenging video sequences and compare it to alternative tracking methods. Significant improvements are made particularly for videos with frequent interactions or occlusions.