A service processing method comprises: after receiving a service sharing request from another terminal, a terminal storing context information of a current state of the terminal, and then switching to the shared service; and when a fallback condition in a preset policy is satisfied, recovering to the state before the switch according to the context information. An embodiment of the present invention also provides a terminal Embodiments of the present invention allow fallback to the state before the service sharing, and thus avoid complex setting and operation of a user.