A method and apparatus for estimating a position of an access point (AP) in a Wi-Fi system is provided. The method includes measuring a strength of a signal, transmitted by the AP, at three or more measurement points (MPs), selecting an imaginary attenuation factor, calculating a range between the AP and each of the MPs on the basis of the imaginary attenuation factor and a strength of a signal measured at the MP, calculating an intersecting point of ranging circles in each of which a position of the MP is a center and the range between the MP and the AP is a radius, calculating a best intersecting point from among a plurality of the intersecting points obtained by repeating the calculating the range and the calculating the intersecting point of ranging circles while changing the imaginary attenuation factor, and estimating the best intersecting point as the position of the AP.