A device and a method for editing text in a portable terminal are provided. The device includes displaying content comprising at least one unit of text, receiving an input of at least one unit of text through a first display area, changing to an editing mode for editing the content when the input text is released from the first display area while dragging the input text to replace a specific word included in the content located at a second display area, and replacing the specific word with the input text when the input text is completely dragged to the specific word.