A system and method for providing an Internet Protocol (IP)-based service in a communication system are provided. In an IP Multimedia Subsystem (IMS) communication system, a menu server generates a service object based on service capability information of a subscriber received from a service provider, and a terminal activates the service object received from the menu server so that the subscriber can easily use services. The user can select one of services from a service menu displayed on the terminal and immediately implement the selected service.