An apparatus and method for mitigating inter-cell interference in a Multiple Input Multiple Output (MIMO) system are provided. The method includes allocating a serving band for providing service to at least one Mobile Station (MS) through scheduling, receiving at least one request set for at least one neighboring cell, from at least one MS, updating the at least one request set considering a serving band of each MS, and transmitting the updated at least one request set to the at least one neighboring cell. The request set includes at least one piece of information among a band and Precoding Matrix Index (PMI) for making a use restriction request to a neighboring cell that exerts interference on an MS.