A method and portable terminal for providing a video communication service are disclosed, in which video and audio data transmitted or received during video communication are recorded and the video and audio data are stored into files by the portable terminal, the files are merged; and the merged files are played. The portable terminal can store images and voices of both users during video communication by successively storing video and audio data, which are transmitted or received, in response to a user's key input and merging the video and audio data into a single file.