A method and system for providing a phone directory service to a user terminal in a mobile communication network are provided. The method includes receiving a search request including a search keyword for the phone directory service and a subscriber identifier for the user terminal from the user terminal, acquiring subscriber information of a subscriber possessing the user terminal from the mobile communication network in which the user terminal is registered using the subscriber identifier, acquiring a business list of businesses corresponding to the search keyword from a business DataBase (DB) for managing businesses which have subscribed to the phone directory service, arranging the business list based on a communication pattern of a group of similar subscribers which have been determined to have subscriber information similar to that of the subscriber possessing the user terminal according to a predetermined criteria, and providing the arranged business list to the user terminal.