A method for transmitting and receiving a signal related to monitoring by a Service Capability Exposure Function (SCEF) in a wireless communication system is disclosed. The method includes receiving a first monitoring request containing first information related to monitoring configuration and deletion from a Service Capability Server/Application Server (SCS/AS), transmitting, to a Home Subscriber Server (HSS), a second monitoring request containing second information related to monitoring configuration and deletion, the second information being generated based on information related to the monitoring configuration and deletion, wherein the second monitoring request contains information indicating whether the second monitoring request is a request for deletion of all the monitoring configuration of a subscriber.