A real time preference channel grouping apparatus and method are disclosed. The apparatus receives a preference channel grouping setting signal, a display demand signal, and a group selection signal, stores user selection-guide information according to the preference channel grouping setting signal and the display demand signal, processes a received signal and the user selection-guide information to display on display device, and groups preference channels according to the signal of the key input unit and allows the preference channels and the user selection-guide information to be concurrently displayed. Thus, the user can perform real time grouping for channels to watch for each desired time and easily retrieve only the grouped channels, and hence it is possible to reduce the time for selecting favorite channels.