A mobile terminal for executing applications and a method of controlling the same are provided. The mobile terminal includes a display unit changing a first object to a floating state where the first object is separated from an execution screen for a first application, based on a predetermined user input being applied to the first object for executing a first control operation which is being displayed on the execution screen for the first application, and displaying the first object on an execution screen for a second application which is executed after the first application ends, and a control unit executing a control operation associated with the first control operation, based on the predetermined user input being applied to the first object which is being displayed on the execution screen for the second application.