An image encoding/decoding method and method are provided. An image decoding method performed by an image decoding apparatus includes obtaining partitioning information of an image from a bitstream, determining a current block by partitioning the image based on the partitioning information, identifying a neighboring block located around the current block, identifying whether a prediction mode of the neighboring block is an MIP (matrix based intra prediction) mode, generating a candidate mode list of the current block based on a predetermined candidate mode, based on the prediction mode of the neighboring block being an MIP mode, and determining a prediction mode of the current block based on the candidate mode list.