A method and apparatus for encoding or decoding a motion vector (MV) of a current block of a current picture using advanced temporal motion vector prediction are disclosed. At least two collocated pictures are selected from a set of reference pictures of the current picture. One or more TMVPs are derived based on reference motion vectors (MVs) associated with collocated reference blocks of the collocated pictures. A motion vector prediction candidate set including one or more TMVPs is then determined. The current block is encoded or decoding using the motion vector prediction candidate set. The reference motion vectors (MVs) are scaled before the reference motion vectors (MVs) are used to derive the TMVPs.