Provided is a nonvolatile memory device and method of operating and fabricating the same for higher integration and higher speed, while allowing for a lower operating current. The nonvolatile memory device may include a semiconductor substrate. Resistive layers each storing a variable resistive state may be formed on the surface of the semiconductor substrate. Buried electrodes may be formed on the semiconductor substrate under the resistive layers and may connect to the resistive layers. Channel regions may be formed on the surface of the semiconductor substrate and connect adjacent resistive layers to each other, but not to the buried electrodes. Gate insulating layers may be formed on the channel regions of the semiconductor substrate. Gate electrodes may be formed on the gate insulating layers and extend over the resistive layers.