The invention provides a call transfer method and apparatus. The method comprises the following steps: when a first terminal has a call with a second terminal, receiving key information sent by the second terminal; judging whether the key information is consistent with a preset feature code; if the key information is consistent with the preset feature code, playing call on hold sound to the firstterminal, and sending a playback signal command to the second terminal; obtaining a telephone number received by the second terminal when executing the playback signal command; and transferring the first terminal to a third terminal corresponding to the telephone number. By adoption of the call transfer method and apparatus, the problem of high hardware cost of call transfer in the prior art is solved, and the technical effect of reducing the hardware cost of call transfer is achieved.