A method for displaying a contact list of a mobile terminal in order of priority levels is provided. The method includes steps: receiving an incoming call or message; obtaining an incoming phone number of the received call or message; finding out a calling contact associated with the incoming phone number on a contact list of the mobile terminal; obtaining remaining phone numbers associated with the calling contact; setting priority levels for all the phone numbers associated with the calling contact; and displaying all the phone numbers associated with the calling contact in an order of decreasing priority levels from high to low on a display screen of the mobile terminal A related mobile terminal is also provided.