An electronic device according to various embodiments includes: at least one communication processor configured to support a plurality of network communications, a shared antenna configured to transmit at least one communication signal corresponding to the plurality of network communications, an antenna tuning circuit configured to adjust resonance characteristics of the shared antenna, and a memory configured to store a plurality of antenna configurations applied to the antenna tuning circuit, wherein the at least one communication processor is configured to: identify a plurality of target power values corresponding to the plurality of network communication, respectively, identify a first antenna configuration of the antenna tuning circuit to minimize the power consumption among the plurality of antenna configurations stored in the memory based on the at least one communication signal being transmitted through the shared antenna, based on the plurality of target power values, and apply the first antenna configuration to the antenna tuning circuit.