A power allocation method and apparatus belong to the field of communications technologies. The method includes: determining, by UE, a first start time point of a first control subframe and a second start time point of a second control subframe; determining, based on the first start time point and the second start time point, whether a priority of a first target subframe is higher than a priority of a second target subframe; and if the priority of the first target subframe is higher than the priority of the second target subframe, allocating, based on first uplink channel information and second uplink channel information, power to the UE in a base station or a cell group in which the first target subframe is located, and allocating reserved power of the UE to the UE in a base station or a cell group in which the second target subframe is located.