A method and an apparatus for transmitting and receiving System Information (SI) of a femto base station in a wireless communication system are provided. In the method, an SI transmission point is determined using unique identification information of a femto base station itself and unique identification information of a macro base station with which the femto base station is associated. Each of user equipment and the macro base station generate a measurement gap pattern representing an SI reception point using the unique identification information of the femto base station and the unique identification information of the macro base station. SI is received from the femto base station according to the generated measurement gap pattern.