Disclosed is a vibration motor for a portable terminal, including a flat spring; a cylindrical magnetic substance mounted on the flat spring; an annular magnetic substance disposed around the cylindrical magnetic substance mounted on the flat spring; and a coil disposed between the cylindrical magnetic substance and the annular magnetic substance, wherein the magnetic substances perform a linear reciprocal movement by the electromagnetic force generated between the magnetic substances and the coil and by the elastic force of the flat spring as an electric current is applied to the coil. The vibration motor operates at higher resonant frequencies than those of conventional vibration motors, thereby improving the sense of an after-vibration and realizing a delicate haptic feedback function.