Disclosed are a method for transmitting or receiving a phase tracking reference signal between a terminal and a base station in a wireless communication system and an apparatus supporting the method. According to one embodiment applicable to the present invention, on the basis of association between the PT-RS and greater of the two demodulation reference signal (DMRS) port indices under code division multiplexing in the time domain (CDM-T), a terminal and a base station determine a first resource for the PT-RS, and transmit and receive same by means of the first resource, wherein the first resource is located on the same subcarrier as a second resource, which is for a PT-RS associated with the smaller of the two DMRS port indices under CDM-T, but on a different symbol than the second resource.