An information service apparatus and method in a wireless communication system are provided. A method of operating a Radio Access Station (RAS) includes receiving information regarding business offices located in a cell coverage area of the RAS from a network entity of a core service network, classifying the received business office information according to a plurality of items and storing the classified information in a Data Base (DB), allocating a Multicast Connection IDentifier (MCID) for each item, determining a transmission period for each item, obtaining a business office list of a corresponding item from the DB when a Transmit (Tx) time elapses according to the Tx period, generating an advertisement multicast burst including the obtained business office list, and multicasting the generated burst to pre-registered Mobile Stations (MSs).