Provided are an apparatus and method for adjusting an optical axis. In the apparatus, an iris diaphragm and a quadrant photodiode (QPD) are used to align optical axes of an optical system of the apparatus so that optical transmission efficiency between an optical transmitter and an optical receiver can be increased. Since a hole of the iris diaphragm can be adjusted to be small, a beam larger than a light-receiving area of the QPD can be included in the light-receiving area, and optical axis alignment is facilitated accordingly. When the QPD and the iris diaphragm are applied to the apparatus, it is possible to simultaneously perform data transmission, tracking, and optical axis alignment. An optical fiber end surface and optical axes of lenses arranged in parallel are aligned in the apparatus so that alignment between two terminals can be easy and reception efficiency can be increased.