Disclosed herein is a mobile terminal with a Near Field Communication (NFC) function, the mobile terminal wirelessly connecting to a reader using NFC. An NFC controller wirelessly connects to the reader through an NFC antenna, and receives an Applet Identification (AID) signal and a function control signal used to control operational states of a plurality of functions provided to the mobile terminal from the reader. A base band unit receives the function control signal, and controls the operational states of functions selected from among the plurality of functions provided to and operated in the mobile terminal. A Universal Integrated Circuit Card (UICC) unit connects to the NFC controller, and records information about the subscriber of the mobile terminal. A Secure Element (SE) encodes and decodes the signal, which is transmitted and received between the mobile terminal and the reader, using a security algorithm.