A text-based content management method and apparatus of an electronic device are provided. The electronic device includes a communication unit configured to communicate with an external device, a display unit configured to display a message management screen comprising a text input window, and a control unit configured to detect at least one entity text among texts displayed on the text input window in response to characters input therein, control the display unit to display relevant information corresponding to the detected at least one entity text in response to a first input selecting the entity text, the selected at least one entity text being a search keyword for retrieving the relevant information, and generate a text-based content in which the retrieved relevant information is linked to the selected at least one entity text in response to a second input selecting the retrieved relevant information.