A method for managing a time series database, includes: monitoring multiple operations that access the time series database, so as to identify types of the multiple operations, the types of the multiple operations comprising at least one of the query types or insert types; with respect to a storage mode among multiple storage modes, obtaining costs that the multiple operations access the time series database based on the types, respectively; selecting a storage mode with the minimum cost from the multiple storage modes; and during a predetermined time period, storing into the time series database data values that are collected from multiple measurement points according to the selected storage mode. In one embodiment, there is provided an apparatus for managing a time series database. By means of the method and apparatus of the present invention, the storage and query efficiency with respect to the time series database can be increased.