The girls can be seen wearing grey attire and praying in the some-what lengthy 27 minute video.
In the video, Boko Haram leader Abubakar Shekau says that the Christian girls have converted to Islam. The young girls can been chanting, "Praise be to Allah, the lord of the world."
A few of the girls 'testify' in the video that they have converted to Islam.
In the video, which emerged Monday, Shekau says: "These girls, these girls you occupy yourselves with... we have indeed liberated them. These girls have become Muslims."
The leader then says he would swap the kidnapped schoolgirls for imprisoned militants.
Last year, the U.S. put a bounty on Shekau's head for $7 million.
The video is the first footage and sighting of the missing schoolgirls that were kidnapped from Chibok, Nigeria, on April 14.
276 of the kidnapped girls remain missing.
The United States, Britain and France have come together in an effort to help Nigeria free the schoolgirls. Over 50 military personnel and advisors are currently based at the Nigerian Embassy to advise and assist with the search.
Boko Haram is responsible for a number of attacks in Nigeria and is believed to have killed over 1,500 people this year alone.
Watch the video released by Boko Haram alleging to show the kidnapped girls below: