Provided are a reference signal transmitting method and device in a multi-antenna system. A terminal generates a plurality of reference signal sequences to which different cyclic shift values are allocated, respectively, generates an orthogonal frequency division multiplexing (OFDM) symbol to which the plurality of reference signal sequences are mapped, and transmits the OFDM symbol to a base station through a plurality of antennas. Each cyclic shift value allocated to each reference signal sequence is determined on the basis of a parameter n indicated by a cyclic shift field transmitted from a physical downlink control channel (PDCCH).