Disclosed are a method and a device for transmitting/receiving a reference signal by a terminal in a wireless communication system. According to the present disclosure, the terminal receives control information from a base station and receives the reference signal based on the control information. The reference signal is transmitted on a specific antenna port and is positioned in the same symbol, on a time axis, and in the same subcarrier, on a frequency axis, as a different reference signal transmitted on at least one other antenna port. A method and a device may be provided, in which an Orthogonal Cover Code (OCC) is applied to the specific antenna port and at least one other antenna port and multiplexed through a Code Division Multiplexing (CDM) scheme and the OCC or a value acquired by shifting the OCC is applied to the subcarrier according to the index of the subcarrier.