A method for saving power of user equipment and a device are disclosed, where the method includes: when determining that downlink data to be sent to user equipment exists and that the user equipment is in a power saving mode, recording an event that the downlink data to be sent to the user equipment exists when the user equipment is in a power saving mode; and sending, when receiving a tracking area update TAU request initiated by the user equipment, an indication message to the user equipment, where the indication message is used to indicate that the downlink data to be sent to the user equipment exists when the user equipment is in a power saving mode, so that the user equipment obtains the downlink data after setting up a data bearer. According to the method provided in the present invention, frequency of setting up a data bearer between user equipment and a network side is reduced, signaling exchanges are reduced, and power of the user equipment is saved.