A digital signal encoding method and apparatus using a plurality of lookup tables. The method includes: preparing a plurality of lookup tables storing numbers of allocated bits for encoding frequency bands of an input signal according to a characteristic of the input signal in a predetermined number of addresses; dividing an input signal in the time domain into signals in predetermined frequency bands; calculating address values of the frequency bands; selecting one of the plurality of lookup tables according to the characteristic of the input signal; extracting numbers of allocated bits of addresses having the calculated address values from the selected lookup table with respect to the frequency bands and allocating the numbers of bits to the frequency bands; and generating a bitstream by quantizing the input signal according to the numbers of allocated bits. Bit amount control suitable for a characteristic of an input signal can be performed by extracting numbers of allocated bits of frequency bands from an optimal lookup table selected according to the characteristic of the input signal. Also, an additional computational time can be reduced by using each occupancy rate per frequency band equal to each address of the lookup table as the characteristic of the input signal.