An audio signal encoding method and a mobile phone, where the audio signal encoding method includes obtaining a digital audio signal in time domain; transforming the digital audio signal in time domain to an audio signal in frequency domain, which comprises a current frame comprises a plurality of subbands; obtaining, reference parameters of the plurality of subbands; encoding, using a HQ algorithm, the current frame to obtain an encoded audio signal when the reference parameters meet a preset parameter condition; and transmitting the encoded audio signal via a network. The audio signal encoding method and the mobile phone help improve encoding quality or encoding efficiency in audio signal encoding.