A multi-standby mobile terminal and an operation method for the same are provided. The multi-standby mobile terminal includes at least two communication modules and a plurality of SIM cards. A number of SIM cards is greater than a number of communication modules. When a call is established over a communication network related to a first SIM card, it is determined whether a second SIM card is associated with a first communication module that is associated with the first SIM card. When a second SIM card is associated with the first communication module associated with the first SIM card, SIM association transfer is performed by disassociating the second SIM card from the first communication module and then associating the second SIM card with a second communication module, and proceeding to handle the call.