A method of recording and reproducing DMB contents in a terminal having a DMB reception function and a wireless Internet function is provided. The terminal extracts information about contents being provided from EPG information and stores it, in response to a storing request from a user during viewing or listening to DMB broadcasting. The terminal is connected to a multimedia server for providing DMB contents on line in response to a recording request or a reproduction request for the contents corresponding to the contents information from the user, requests the contents corresponding to the contents information from the multimedia server, receives the contents from the multimedia server, and records or reproduces the contents.