A method and an apparatus are provided for executing applications. Based on a first user input, a first window including number keys is displayed. Based on a second user input selecting a key, a second window is displayed including a list of applications. Based on an application being selected, the selected application is mapped to the selected key and an icon image corresponding to the selected application is displayed in the selected key. After the selected application is mapped, a third user input is received corresponding to the selected key. In response to the third user input, a function is performed associated with the selected application in case that a duration of the third user input is longer than or equal to a threshold duration, and an operation different from the function is performed in case that the duration is shorter than the threshold duration.