A device and method of storing and displaying a music file list in a mobile communication terminal using a hot key are provided. More particularly, a method for storing a music file list by pressing the hot key for an extended period and displaying the music file list by pressing the key for an abbreviated period is provided. A specific music file list is selected from at least one music file list displayed in a music file playback mode. If a number key input occurs after selecting the specific music file list, a determination is made as to whether the number key input is a long press input or short press input. If the number key input is a long press input, the music file list is stored into the number of the number key. If the number key input is a short press input, the music file list stored into the number is displayed. The method facilitates the simple storage and display of a music file list through a hot key input to ultimately increase user convenience.