A communication method and system for converging a 5th-Generation (5G) communication system for supporting higher data rates beyond a 4th-Generation (4G) system with a technology for internet of things (IoT) is provided. The communication method includes applying to intelligent services based on the 5G communication technology and the IoT-related technology, such as smart home, smart building, smart city, smart car, connected car, health care, digital education, smart retail, security and safety services. The disclosure relates to a method and an apparatus for allocating a phase tracking reference signal (PTRS) for estimating and compensating for phase distortion due to phase noise, Doppler effect, or synchronization error.