An apparatus and method for transmitting and receiving magnetic field signals in a magnetic field communication system are provided. The apparatus includes a controller configured to generate a communication signal, matching units that are configured to receive the communication signal and that respectively correspond to different matching frequencies, and loop antennas that are connected to the matching units, respectively, and that are configured to convert communication signals according to the different matching frequencies into magnetic transmission signals in the form of magnetic field energy and to transmit the magnetic transmission signals.