A cooperative adaptive cruise control (CACC) system that is provided in a subject vehicle to control a driving speed of the subject vehicle, comprising: a communication unit configured to receive vehicle information including position and driving information from neighboring vehicles using V2V (Vehicle to Vehicle) communications; an information collection unit configured to collect driving information of a forward vehicle and vehicle information of the subject vehicle using sensors provided on the subject vehicle; and a control unit configured to select a target vehicle to be followed by the subject vehicle based on the vehicle information of the neighboring vehicles that is acquired by the communication unit and the driving information of the forward vehicle that is collected by the information collection unit, to control the driving speed of the subject vehicle based on a target speed of the subject vehicle if the target vehicle to be followed by the subject vehicle is not selected, and to control the driving speed of the subject vehicle based on speed information of the target vehicle, speed information of the subject vehicle, and a target time gap if the target vehicle to be followed by the subject vehicle is selected, wherein the target vehicle to be followed by the subject vehicle is selected by: selecting vehicles that travel in the same lane as the subject vehicle as a first group of potential vehicles of interest, selecting, in the first group of potential vehicles of interest, vehicles, in which existence range information that is received from each potential vehicle of interest of the first group of potential vehicles of interest exists within one value of (0.1 × (the range measured by the sensor)) and (0.7 × (the length of each potential vehicle of interest)) that is larger than the other value, selecting, in the second group of potential vehicles of interest, vehicles in which a difference between speed information received from each potential vehicle of interest of the second group of potential vehicles of interest and speed measured by the sensor for each potential vehicle of interest is within 1 m/s as a third group of potential vehicles of interest, and selecting one vehicle in the third group of potential vehicles of interest as the target vehicle to be followed by the subject vehicle. a communication unit configured to receive vehicle information including position and driving information from neighboring vehicles using V2V (Vehicle to Vehicle) communications; an information collection unit configured to collect driving information of a forward vehicle and vehicle information of the subject vehicle using sensors provided on the subject vehicle; and a control unit configured to select a target vehicle to be followed by the subject vehicle based on the vehicle information of the neighboring vehicles that is acquired by the communication unit and the driving information of the forward vehicle that is collected by the information collection unit, to control the driving speed of the subject vehicle based on a target speed of the subject vehicle if the target vehicle to be followed by the subject vehicle is not selected, and to control the driving speed of the subject vehicle based on speed information of the target vehicle, speed information of the subject vehicle, and a target time gap if the target vehicle to be followed by the subject vehicle is selected, wherein the target vehicle to be followed by the subject vehicle is selected by: selecting vehicles that travel in the same lane as the subject vehicle as a first group of potential vehicles of interest, selecting, in the first group of potential vehicles of interest, vehicles, in which existence range information that is received from each potential vehicle of interest of the first group of potential vehicles of interest exists within one value of (0.1 × (the range measured by the sensor)) and (0.7 × (the length of each potential vehicle of interest)) that is larger than the other value, selecting, in the second group of potential vehicles of interest, vehicles in which a difference between speed information received from each potential vehicle of interest of the second group of potential vehicles of interest and speed measured by the sensor for each potential vehicle of interest is within 1 m/s as a third group of potential vehicles of interest, and selecting one vehicle in the third group of potential vehicles of interest as the target vehicle to be followed by the subject vehicle. selecting vehicles that travel in the same lane as the subject vehicle as a first group of potential vehicles of interest, selecting, in the first group of potential vehicles of interest, vehicles, in which existence range information that is received from each potential vehicle of interest of the first group of potential vehicles of interest exists within one value of (0.1 × (the range measured by the sensor)) and (0.7 × (the length of each potential vehicle of interest)) that is larger than the other value, selecting, in the second group of potential vehicles of interest, vehicles in which a difference between speed information received from each potential vehicle of interest of the second group of potential vehicles of interest and speed measured by the sensor for each potential vehicle of interest is within 1 m/s as a third group of potential vehicles of interest, and selecting one vehicle in the third group of potential vehicles of interest as the target vehicle to be followed by the subject vehicle.