An apparatus and method are provided for beamforming in a MIMO wireless communication system. A base station includes a first calculator that repeatedly calculates downlink beamforming vectors of the user terminals to calculate the optimal beamforming vectors for the user terminals, a quantizer that quantizes the downlink beamforming vectors in order to transmit information of the downlink beamforming vectors, a control channel transmitter that feeds forward information of the quantized downlink beamforming vectors to the user terminals, a second calculator that calculates the final downlink beamforming vectors of the user terminals, and a beamforming transmitter that sums the beamformed TX signals of the user terminals and transmits the summed TX signals through a plurality of TX antennas.