Disclosed are a method, device, and system for reporting a channel quality indicator (CQI), applicable in solving the problem in coordinated multipoint transmission technology of the incapability of a network side to execute accurately resource distribution and scheduling due to the incapability of the network side to have accurate knowledge of the interference that a terminal is being subjected to. The method is: on the basis of measurement reference signals transmitted by each device in a measurement collection, the terminal feeding back to a network side device an initial CQI of each device in the measurement collection; on the basis of the initial CQI of each device fed back by the terminal, and of channel matrix reference information fed back by the terminal, the network side device calculating a target CQI of the terminal. This allows the network side to learn accurately the interference that the terminal is being subjected to, thus allowing for accurate execution of terminal scheduling, resource distribution, and MCS selection, for effectively improved system throughput in coordinated multipoint transmission, and for improved system performance.