An apparatus and method for dynamically allocating a multicast path in a broadband wireless access system are provided. A method for an operation of a server providing a multicast service through a wireless access network includes determining to establish multicast paths for a first Base Station (BS) and at least one neighboring BS of the first BS when a terminal receiving the multicast service enters a network through the first BS, and transmitting a control station a message of instructing to establish the multicast path for a BS not holding the multicast path among the first BS and the at least one neighboring BS of the first BS.