A mobile terminal for providing a video sharing function in a multi-party call state and its video sharing method are disclosed. When a video sharing menu is selected while a user is performing individual call communication or multi-party call communication, one or a plurality of video share keys in relation to a user selected for video sharing are displayed, so that the user can select a desired one of the displayed video share keys to share video with the selected user. In addition, a video share authority change key is disposed on the screen of a terminal set as a video share authority (chief authority) change target, so that a corresponding terminal can select the video share authority change key during individual or multi-party video sharing to acquire the authority of video sharing (chief authority) from a terminal currently having the authority of video sharing, thus perform bi-directional video sharing in real time.