Disclosed is a method for selecting and managing a mobility protocol between a network and a terminal in a mobile communication system. When the terminal is to setup an IP tunnel for data transmission/reception with the network supporting a plurality of mobility protocols, firstly, the terminal is configured to transmit a list of terminal-supported mobility protocols and/or its preference information (e.g., information about mobility protocol preferred by the terminal) to the network, and secondly, the network is configured to determine (select) a mobility protocol of an IP tunnel for data transmission/reception with the terminal based on the information, thereby enhancing an efficiency of the resource when the IP tunnel is setup between the terminal and the network.