Apparatus and method for sharing application with a portable terminal

A method for sharing an application between a first portable terminal (110) and a second portable terminal (120) includes the first portable terminal (110) collecting application information if an application sharing event occurs, generating a marker (112) including the application information, and displaying the marker (112); and the second portable terminal (120) capturing an image (122) of the marker (112) including application information, recognizing the marker (112), extracting the application information from the marker (112), and installing an application corresponding to the application information from the marker (112). The first portable terminal (110) includes a marker generating unit (214) to generate the marker (112) including the application information, and a display unit (270) to display the marker (112). The second portable terminal (120) includes a camera unit (380) to capture an image (122) of the marker (112), a marker recognizing unit (312) to recognize the marker (112), a marker analyzing unit (313) to extract the application information from the marker (112), and an application installing unit (315) to install the application.