Provided is a video telephony apparatus and method for mobile terminals. The video telephony apparatus includes a controller, a display unit, a codec, and a content controller. The controller exchanges protocol signals for a video call with the other party terminal, and demultiplexes a moving image and a voice that are received from the other party terminal. The display unit displays the received moving image, and the codec plays the received voice. The content controller manages Right Objects (ROs) of multimedia contents received from the other party terminal, and captures the displayed moving image and the played voice according to the ROs. Accordingly, it is possible to protect portrait rights during the video call.