An apparatus and method of receiving signal are provided. The apparatus includes an amplifier that controls a gain according to a gain control signal and amplifies a received signal to generate an amplified signal, an analog-to-digital (A/D) converter that converts the amplified signal into a digital signal, a Fourier transform unit that performs Fourier transform of the digital signal to a frequency domain signal to generate a Fourier transform signal, a demodulator that demodulates the Fourier transform signal to generate a demodulated signal, and an automatic gain control unit that divides the Fourier transform signal into a noise period and a symbol period, calculates the signal level of the noise period based on the signal level of the symbol period, and generates the gain control signal according to the signal levels of the symbol period and the noise period.