A method and an apparatus for adjusting transmit powers of base station antennas, and a base station are provided. The method includes receiving an input precoding matrix of a transmit power-limited antenna set, where the precoding matrix is determined according to a scheduling result of a user equipment communicating with a base station in each layer of each subband in a system; adjusting the precoding matrix according to a transmit power limit requirement of the transmit power-limited antenna set, a system capacity improvement requirement, or a coverage performance improvement requirement to obtain an adjusted precoding matrix; and adjusting a stream transmit power of the transmit power-limited antenna set by using the adjusted precoding matrix.