A motion vector predicting method and apparatus for predicting motion vectors in image coding and decoding, including predicting a motion vector of each small block in a macro block divided into at least one small block. The method may include selecting at least one small block, where a motion vector can be estimated, using motion vector information of adjacent small blocks, and includes simultaneously performing a motion vector prediction of the selected small block. By reducing a 16-operation process, conventionally required for processing a macro block with 4×4 blocks, into an 11-operation process, the image coding and decoding processing times can be reduced without using a complicated motion vector predicting apparatus.