A method for a terminal to transmit an uplink signal and a terminal thereof are provided. The method includes: receiving an instruction sent by a serving base station and used for determining transmit power; selecting an uplink power control formula from a plurality of uplink power control formulas according to the instruction; obtaining transmit power of an uplink signal by using the selected uplink power control formula; and transmitting an uplink signal by using the transmit power. An uplink power control formula is selected from a plurality of uplink power control formulas according to an instruction of a serving base station, so that a terminal is not only capable of selecting, according to a receiving manner, a corresponding uplink power control formula to determine a transmit signal, but also capable of using a corresponding uplink power control formula for a different configuration parameter of a non-periodical SRS to determine suitable transmit power to transmit an uplink signal. In this way, power control requirements in current different receiving manners are met, and flexibility of uplink transmit power control and signal transmission performance of the terminal are improved.