An apparatus and a method for controlling power in a wireless communication system are provided. The method includes receiving interference information comprising a resource usage rate, from at least one neighboring BS, calculating a throughput variance amount, which is expected if the serving BS changes power, experienced by the at least one neighboring BS, by using the interference information, calculating a throughput variance amount, which is expected if the serving BS changes power, of at least one Mobile Station (MS) having access to the serving BS, and controlling power for the at least one MS by using the throughput variance amount experienced by the at least one neighboring BS and the throughput variance amount of the at least one MS. The interference information represents a throughput variance amount generated in the at least one neighboring BS when the serving BS changes the power.