A base station apparatus and method of transmission of dynamic feedback channel information in a MIMO system. The base station apparatus includes a first channel state information receiving unit to receive a first channel state information; a receiving terminal selection unit to select at least one receiving terminal to receive data from among a plurality of terminals; a quantization length determination unit to independently determine a second quantization length of the selected receiving terminal; a quantization length transmission unit to transmit the second quantization length to the selected e receiving terminal; a second channel state information receiving unit to receive second channel state information from the selected receiving terminal; and a data transmission unit to transmit data to the selected receiving terminal using a plurality of transmission antennas of a base station based on the second channel state information.