Disclosed is an electronic device including a communication circuit and a processor. The processor may be configured to communicate with an external electronic device based on a specified protocol, using the communication circuit, to receive first information at least including type information of the external electronic device based on the specified protocol, using the communication circuit, and to determine a positioning master for measuring a distance between the electronic device and the external electronic device based at least on the first information among the electronic device and the external electronic device. Other various embodiments as understood from the specification are also possible.