A system to manage internet protocol address (IP) of baseboard management controller (BMC) includes switches, servers, and a management terminal. Each switch transmits to servers link layer discovery protocol in information packets, giving information of itself and a port of itself. Each server transmits obtained information of the switch and the port of the switch and a BMC IP of that server. The management terminal determines whether the BMC IP transmitted from each server is consistent with an assigning BMC IP corresponding to the port of the switch transmitted from the sever according to a relationship between each port of each switch, identification information of each server and assigning BMC IP of each server and displays the identification information of the server in the event that incorrect BMC IP is transmitted to enable a correction to be made. A method for managing BMC IP is also disclosed.