A mobile terminal and an operation control method thereof are provided. The operation control method includes displaying a stereoscopic 3D image, which is created based on the disparity between left- and right-eye images, on a display module; determining a position of a user's gaze on the stereoscopic 3D image by performing eye tracking; and varying a 3D effect of a portion of the stereoscopic 3D image corresponding to the determined gaze position. Therefore, it is possible to effectively control various operations performed by a mobile terminal in connection with a stereoscopic 3D image by using eye tracking.