The present invention relates to a mobile terminal and method for sharing location information between users. The mobile terminal includes a user input unit for receiving destination information of a first user from the first user. A location information input unit receives origin information of the first user from a Global Positioning System (GPS) or a Near-Field Communication (NFC) payment module of public transportation which the first user gets on. A communication unit transmits the origin information and the destination information of the first user to a public transportation information system, and receives movement route information of the first user from the public transportation information system. A location estimation unit estimates a current location of the first user using time required by the first user corresponding to the movement route information.