A method for setting a network environment and a storage device applying the same are provided. The method includes, if a storage device is connected to a first electronic device, executing a specific application stored in the storage device by the first electronic device, setting a network environment of the first electronic device by the specific application, and storing set network environment information of the first electronic device in the storage device by the specific application. Accordingly, a user automatically sets a network of diverse electronic devices using a storage device.