Abstract: A multi-standby terminal and a method of providing a call waiting sound thereof eliminate the need for subscribing to a call-waiting service. The multi-standby terminal preferably includes: a first RF unit for forming a communication channel with a first terminal; a second RF unit for receiving a communication request from a second terminal; an audio processor for outputting a call connecting sound notifying that a communication request from the second terminal is received; an input unit including a function key for generating an another party change signal for changing to another party; a first controller for controlling, when the another party change signal is input, to set the first terminal to a call waiting state and to transmit preset call waiting sound to the first terminal through the first RF unit; and a second controller for controlling to perform communication with the second terminal through the second RF unit.