A mobile terminal and panoramic photographing method for the same are provided. The panoramic photographing method includes displaying a preview image upon selection of a panoramic mode, successively capturing a first partial image and second partial image in response to input of a shooting start signal, setting a photographing direction through a comparison between the first partial image and second partial image, and producing a panoramic image in the set photographing direction. As a result, the user does not have to set the photographing direction to capture a panoramic image using a mobile terminal.