Provided are an electronic device and method for managing the perceived loudness of an input audio signal. The electronic device includes a communication unit configured to communicate with internal units and external devices and receive an audio source signal; a loudness adjustment unit configured to receive the audio source signal from the communication unit and obtain an input audio source signal from the audio source signal; a noise separator configured to separate noise from the input audio source signal; a voice booster configured to boost an output audio signal received from the loudness adjustment unit; a storage unit storing instructions; and at least one processor configured to communicate with the communication unit, the loudness adjustment unit, the noise separator, the voice booster, and the storage unit and control operations thereof by executing the stored instructions.