Abstract: A portable terminal with an enhanced power management function and a method for managing power of the portable terminal are provided. The portable terminal includes a setup unit for storing and managing information on a operation condition of each of hardware devices, an execution condition of each of application programs, and a minimum workload state of a running application programs, determining a power mode adequate to each of the hardware devices or a CPU clock speed adequate to the running application program based on the stored information, and providing information on the determination; and a control unit for receiving the determination information from the setup unit and controlling the CPU clock speed to a demanded level or switching each of the hardware devices to a demanded power mode based on the determination information.