A memory system includes a memory device suitable for storing an erase count list where a first erase count of each of a plurality of memory blocks is recorded, and a controller suitable for counting the first erase count of each of the memory blocks, updating the erase count list to reflect the first erase count, selecting victim blocks from the memory blocks, checking a second erase count corresponding to each of the victim blocks, updating a victim block erase count list to reflect the second erase count, comparing the first erase count and the second erase count which correspond to a target victim block, among the victim blocks, and moving data stored in the target victim block to a normal block when the first erase count is equal to the second erase count.