A method for managing an electronic phone book is used in a communication device which includes a universal subscriber identity module (USIM), a system for executing the method, a storage device, and a processor. The USIM includes elementary files. The system and the method identify information updated by users for saving the electronic phone book, a contact name, a contact phone number, and a contact email address according to link information of each elementary file. The system and the method update the contact information of USIM according to the information updated by the users. The contact information of USIM can be quickly updated by utilizing the method and the system.