A system and method of network adaptive real-time multimedia streaming, in which a receiving bit rate of a packet that is received from a client is monitored, and the monitoring result is fed back to a streaming server, and a transfer bit rate of a packet that is transmitted by the streaming server are provided. The streaming system includes a streaming path on which packetized data are streamed, a streaming server for transmitting the packetized data at a first bit rate through the streaming path in response to a control signal, and a client for receiving the packetized data at a second bit rate according to the state of the streaming path, comparing the first bit rate with the second bit rate and generating the control signal corresponding to the comparison result. The first bit rate is controlled in response to the control signal. The size of packets and an interval between the packets are controlled by the first bit rate. The state of the network is sensed, and thus the transfer bit rate can be automatically controlled according to the state of the network.