A method and apparatus for canceling interference between a transmission signal and a received signal in a full-duplex RS in a communication system are provided, in which an RF/IF signal received from a first node through an antenna is converted to a baseband received signal, demodulated and decoded, a baseband transmission signal is generated by encoding and decoding the decoded data, a baseband interference estimate is calculated using the baseband received signal and the baseband transmission signal, a baseband interference is eliminated from the baseband received signal according to the baseband interference estimate, the baseband transmission signal is converted to an RF/IF transmission signal for a second node, an RF/IF interference estimate is calculated by converting amplitude of the RF/IF transmission signal and delaying it, and an RF/IF interference is eliminated from the RF/IF received signal according to the RF/IF interference estimate.