Disclosed are a semiconductor device and a method of manufacturing the same. The semiconductor device comprises a substrate including a cell region and a peripheral region, a magnetic tunnel junction pattern on the cell region, a capping insulation layer covering a sidewall of the magnetic tunnel junction pattern, and an upper insulation layer including a first portion on the capping insulation layer and a second portion on the peripheral region. A level of a bottom surface of the second portion is lower than that of a bottom surface of the capping insulation layer.