A system and method for estimating power of a wireless system simultaneously estimates and displays a code domain power and a time domain power in the system which may be a wireless communication system that mixes TDMA and CDMA methods such as WCDMA TDD and TD-SCDMA. The method includes designating a section where an output power is to be estimated, estimating a time domain power in the designated section; estimating a code domain power in the designated section, and displaying the estimated time domain power and the code domain power on a display unit.