An address management method, system, and device to avoid a problem that a same Internet Protocol (IP) address is assigned to different packet data unit (PDU) sessions and to effectively use IP addresses in an address pool. The method includes: obtaining, by a session management network element, an identifier of a user plane function network element serving a terminal and session information of the terminal; determining, by the session management network element based on the identifier of the user plane function network element and the session information, an address pool identifier corresponding to the session; sending, by the session management network element, the address pool identifier to a server, where the address pool identifier is used to assign an IP address to the session; and receiving, by the session management network element from the server, the IP address corresponding to the session.