Pansharpening refers to the fusion of a low spatial-resolution multispectral image with a high spatial-resolution panchromatic image. In this paper, we propose a novel low-rank tensor completion (LRTC)-based framework with some regularizers for multispectral image pansharpening, called LRTCFPan. The tensor completion technique is commonly used for image recovery, but it cannot directly perform the pansharpening or, more generally, the super-resolution problem because of the formulation gap. Different from previous variational methods, we first formulate a pioneering image super-resolution (ISR) degradation model, which equivalently removes the downsampling operator and transforms the tensor completion framework. Under such a framework, the original pansharpening problem is realized by the LRTC-based technique with some deblurring regularizers. From the perspective of regularizer, we further explore a local-similarity-based dynamic detail mapping (DDM) term to more accurately capture the spatial content of the panchromatic image. Moreover, the low-tubal-rank property of multispectral images is investigated, and the low-tubal-rank prior is introduced for better completion and global characterization. To solve the proposed LRTCFPan model, we develop an alternating direction method of multipliers (ADMM)-based algorithm. Comprehensive experiments at reduced-resolution (i.e., simulated) and full-resolution (i.e., real) data exhibit that the LRTCFPan method significantly outperforms other state-of-the-art pansharpening methods. The code is publicly available at: https://github.com/zhongchengwu/code_LRTCFPan.