Embodiments of the present invention relate to the field of antenna technologies, and provide a slot antenna and a mobile terminal, to generate different resonance frequencies, so as to cover required bands. The slot antenna includes a system circuit board, a grounding conductor, a radiator, and a first adjustable unit. The system circuit board is connected to the grounding conductor to form an electric conductor, and the radiator is opposite to the electric conductor to form a slot. A feeding end is disposed on the system circuit board, the feeding end is electrically connected to the radiator, one end of the first adjustable unit is connected to the system circuit board, the other end of the first adjustable unit is connected to the radiator, and the first adjustable unit is configured to adjust a resonance frequency of the slot antenna.