Provided is a method, performed by an electronic device, of performing secure ranging with a target device. The method of performing secure ranging may include receiving a connection message for communication with the target device using a first communication method through a first communicator, transmitting, by a first applet in a secure element of the electronic device, a ranging session key for the target device to a second applet in the secure element, the ranging session key being stored in the first applet, receiving a ranging session request from the target device, based on the ranging session request, obtaining, by a second communicator, the ranging session key for the target device from the second applet, and by using the ranging session key, performing secure ranging using a second communication method with the target device through the second communicator.