A service processing method and a terminal, where the terminal obtains identification information of a to-be-processed service, and sends a retrieval request message to a server after determining that no function corresponding to the identification information of the to-be-processed service exists in an application program installed on the terminal. The terminal receives a target function from the server, and invokes the target function to process the to-be-processed service. The terminal sends the retrieval request message to the server only after determining that no corresponding function exists such that the terminal does not need to obtain a web application from the server each time. In addition, the terminal receives the target function from the server such that traffic and a download time are effectively reduced.