A system and method for providing an E-mail service through a portable terminal with a wireless Internet access function. A multimedia server receives a multimedia E-mail including multimedia data and E-mail data to be transmitted to the portable terminal, stores the multimedia data in an internal local memory, and adds URL information as a predetermined format string to the E-mail content. An E-mail server receives the E-mail from the multimedia server and notifies the receiving portable terminal of the arrival of the E-mail. The portable terminal receives the E-mail from the E-mail server, parses the E-mail content, and displays the E-mail content with multimedia link information if the predetermined format string is confirmed.