Electronic device performing reconnection of short-range communication and method for operating the same

An electronic device is provided. The electronic device includes at least one wireless communication circuit, a processor, and a memory. The memory stores instructions to enable the processor to, during first P2P wireless communication with a first external electronic device, enable the electronic device to operate as at least one of a host or a client, store first information about a role of the electronic device one of the host or the client, during second P2P wireless communication with the first external electronic device after the first P2P wireless communication, determine whether the first external electronic device was previously in a group, exchange second information with the first external electronic device based on a status of at least one of the electronic device or the first external electronic device, and select the role of the electronic device as the host or the client based on the second information.