A method and terminal for demand paging at least one of code and data requiring a real-time response is provided. The method includes splitting and compressing at least one of code and data requiring a real-time response to a size of a paging buffer and storing the compressed at least one of code and data in a physical storage medium, if there is a request for demand paging for the at least one of code and data requiring the real-time response, classifying the at least one of code and data requiring the real-time response as an object of Random Access Memory (RAM) paging that pages from the physical storage medium to a paging buffer, and loading the classified at least one of code and data into the paging buffer.