The disclosure relates to a 5G or 6G communication system for supporting a higher data transmission rate than 4G communication systems such as LTE systems. The disclosure relates to a method and device for dynamically selecting, or simultaneously performing, PAC code-based Fano decoding and/or list decoding in a wireless communication system. The method for performing PAC code-based decoding by a reception device in a wireless communication system comprises identifying a specific criterion variable related to a channel state for selecting at least one of Fano decoding or list decoding for a signal received from a transmission device, comparing the specific criterion variable related to the channel state with a threshold, performing the Fano decoding in case that the specific criterion variable related to the channel state satisfies the threshold, and performing the list decoding in case that the specific criterion variable related to the channel state does not satisfy the threshold.