A receiving apparatus and method of a Multiple Input Multiple Output (MIMO) system are provided. The receiving apparatus includes a clock generation/delay compensation unit for generating a clock, an antenna switching unit for temporally dividing signals received through multiple antennas by performing switching according to the clock, a radio frequency (RF) chain to be shared for converting the temporally divided signals into baseband signals, and an analog to digital converter (ADC) to be shared for converting the converted signals into digital signals and for outputting the converted signals according to the clock. Accordingly, the number of RF chains used to implement a MIMO RFIC is reduced.