A mobile terminal having a bookmark function and a method for quickly executing the bookmark function. The mobile terminal for executing a wireless Internet access function and bookmarking a wireless Internet site includes a key entry unit having a bookmark hot key and a plurality of number keys; a memory for storing bookmark information created by assigning a unique ID number to a bookmarked Internet site from among a plurality of Internet sites accessible by the wireless Internet access function; and a controller for reading out an address of an Internet site corresponding to an ID number of a predetermined number key from the memory when the bookmark hot key and the predetermined number key are pushed on the key entry unit, and executing the wireless Internet access function.