A method and apparatus for estimating virtual machine energy consumption, and in particular, a method and apparatus for estimating virtual machine energy consumption in a computer system. The method includes: obtaining system energy consumption of the system hardware resources; obtaining event information of a plurality of functional units into which the system hardware resources are divided, and mapping the event information to the respective virtual machines; and calculating energy consumption of the virtual machines according to a plurality of energy consumption coefficients corresponding to the plurality of functional units and according to the event information mapped to the functional units of the respective virtual machines.