Aspects of a method and system for a fast power control mechanism for Bluetooth devices may include receiving from a first Bluetooth device, a request for a transmit power adjustment for one or more operating modes. A step size may be received for the transmit power adjustment via the received request. The transmit power may be adjusted as a function of the step size. A feedback message may be sent to the first Bluetooth device, wherein the feedback message may indicate a status of the adjusting. The transmit power adjustment may be requested via a Link Management Protocol (LMP) message. One or more operating modes may comprise a Bluetooth Basic Rate (BR) mode, and/or a Bluetooth Enhanced Data Rate (EDR) mode.