The system for transmitting and receiving a wideband speech signal includes an A/D converter for receiving an analog speech signal to convert it into a digital speech signal, a transmitter analysis filter for receiving the digital speech signal and dividing it into a baseband signal and an enhancement residual band signal, a standard baseband encoder for accepting the baseband signal and coding it using an ITU-T encoder, an additional baseband encoder for reducing standard coding distortion in the baseband signal, an enhancement residual band encoder for coding a signal obtained by removing the coded baseband signal from the original digital speech signal, and an IP network interface for multiplexing the coded standard and additional baseband signals and enhancement residual band signal.