Methods and apparatuses for encoding and decoding of an audio signal using a mixture of a time-frequency method and a parametric method according to the audio band are provided. An encoding method of an audio signal includes: dividing input audio signals into a plurality of audio bands; selecting a coding method for each audio band; encoding each audio band according to the selected coding method for each band; and generating a bit stream including all the data encoded for each audio band, wherein selecting a coding method for each band comprises selecting smaller encoded data either from a parametric coding method or a time-frequency coding method.