Provided is a music note indicating method for an electronic piano, a mobile terminal, an electronic piano and a music note indicating system. The electronic piano includes a keyboard with a plurality of keys, a controlling device and a plurality of LED indicating lamps. The plurality of LED indicating lamps are located in a plane parallel to the keyboard. The method includes: obtaining a music score information of a predetermined music score by a mobile terminal; analyzing the music score information to generate a music note sequence comprising at least one first music note data by the mobile terminal; generating a control signal according to the at least one first music note data and sending the control signal to the controlling device by the mobile terminal; and controlling the plurality of LED indicating lamps to indicate the music note sequence according to the control signal by the controlling device.