System and method for providing a Web content provision service using a subscriber terminal in an exchange system. The Web content provision service system comprises the subscriber terminal generating content request information containing user information in response to a content request, receiving content information according to the content request information, and displaying the received content information on a display, a Web server for collecting the content information from at least one predetermined Web site at intervals of a certain time, storing the collected content information, accessing the stored content information in response to a message requesting transmission of the content information and sending the accessed content information to the subscriber terminal, and the exchange system having identification information corresponding to the subscriber terminal and port information corresponding to the identification information, being connected to an Internet protocol (IP) network via a local area network (LAN) and being connected to a public switched telephone network (PSTN) via a trunk card, sending the content transmission request message to the Web server over the Internet protocol network in response to the content request information from the subscriber terminal, receiving the content information according to the content request information from the Web server, and sending the received content information to the subscriber terminal.