A method of providing location information in a wireless communication system includes receiving a location information request message, including Location Based Service (LBS) control information, from a Base Station (BS), the LBS control information being information about a condition in which location information is reported, performing LBS measurement, and if the condition is satisfied, transmitting a location information response message, including location information collected through the LBS measurement, to the BS. In accordance with the present invention, in a wireless access system supporting LBS, LBS-related information can be reported irrespective of the state of a User Equipment (UE). In particular, in the case in which a UE is in an idle state, location information can be provided efficiently and rapidly.