A mobile terminal capable of being tracked and located is disclosed, comprising a built-in card and a security system module which are connected with each other. The security system module generates a short message used for tracking and locating when receiving an incoming call request or a short message sent by the built-in card, wherein the short message at least carries an identification of a cellular tower interacting with the built-in card and information of current signal intensity, and the short message is sent into the built-in card; the built-in card sends the received incoming call request or the short message to the security system module and periodically sends the short message used for tracking and locating generated by the security system module to the set security number. A corresponding method is also provided. The security system is good at cover-up to bring the advantages of security and saving electricity.