The electronic device includes a display, a memory, and a processor operatively coupled to the display and the memory. The processor is configured to identify a residual level of a storage space of the memory, in response to the residual level of the storage space of the memory being less than a predefined threshold value, control the display to display a file converting scheme list including a plurality of file converting schemes, select one file converting scheme among the plurality of file converting schemes, based on a received input, and perform file converting, based on the selected file converting scheme.