A method and apparatus for a channel feedback by a signal transmitting device in a Multiple Input Multiple Output (MIMO) system are provided. The method includes transmitting a pilot in which a compression rate is reflected to a signal receiving device; receiving channel related information on a compressed channel from the signal receiving device; and performing a precoding based on the channel related information. The apparatus includes a transmitting unit configured to transmit a pilot to which a compression rate is reflected to a signal receiving device; a receiving unit configured to receive channel related information on a compressed channel from the signal receiving device; and a precoding unit configured to perform a precoding based on the channel related information.