An electronic device may comprise: a first battery having a first capacity; a second battery having a second capacity; a power management module which individually controls a charging state of the first battery and the second battery; a memory; and a processor operably coupled to the power management module, wherein the processor calculates a first cycle relating to the charging state of the first battery and a second cycle relating to the charging state of the second battery, and discharges one of the first battery and the second battery before the other battery on the basis of a reference use voltage determined based on the first cycle or the second cycle.