The embodiment of the invention discloses a mobility management method, user equipment and a base station. The mobility management method comprises the steps that the user equipment (UE) in a connected state receives a UE source identity from a first base station, wherein the source identity is used for uniquely identifying the UE in the first base station; the UE enters a low cost state after satisfying a low cost excitation condition, in the low cost state, the UE stores connection context of the UE in the connected state, and the UE carries out cell residence through a cell reselection criterion in a moving process; and when a first preset condition is satisfied, the UE reports the source identity to a second base station to which a second cell belongs, wherein the second cell is a serving cell currently resided by the UE. Through adoption of the method, the user equipment and the base station, after the UE enters the low cost state, the UE autonomously carries out cell reselection-based mobility, only location change information of the UE is reported, a handover process is simplified and communication resources of network equipment are saved.