A mobile terminal and a method for retrieving a phone number using identification names corresponding to stored phone numbers are provided. The method includes: displaying a first letter of identification names in a phone number retrieval mode, wherein each identification name corresponds to a phone number stored in the mobile terminal; selecting one of the displayed first letters; extracting at least one search keyword having the selected first letter as the first letter of the search keyword; and displaying the identification names corresponding to the search keyword. Retrieval of a phone number is thereby simplified, and the retrieval speed of the phone number is improved.