A power allocation method and apparatus that relate to the wireless communications field. The method includes determining, by the user equipment (UE), a first channel in a first subframe; determining, by the UE, n second channels in n second subframes, where the n second subframes are subframes having overlapping time greater than or equal to a preset threshold with the first subframe; allocating, by the UE, transmit power at least to the first channel according to transmit power required for the first channel and transmit power required for the n second channels; and sending, by the UE, data to a first base station/first cell group on the first channel according to the transmit power allocated to the first channel.