Hybrid Electric Vehicle and Method for Controlling Speed Limit for the Same

Controlling a speed limit includes determining a virtual vehicle speed as being a lower one of a vehicle speed and a target limit speed, determining a virtual APS value as being a larger one of a first APS value and a second APS value, transitioning to a second mode at a point in time at which an actual APS value and the second APS value become different, when it is expected to transition to the second mode, among a first mode for sustaining a SOC of a battery at the target limit speed and the second mode for depleting the SOC, and determining a transmission gear position by applying the determined virtual vehicle speed and the determined virtual APS value to one of a first shifting pattern and a second shifting pattern.