A log-based FTL and an operating method thereof for improving performances of reading and writing operations to increase the lifetime of a flash memory. In the method, when a reading operation for an LBN and an LPN is requested, a PBN and a PPN corresponding to the LBN and the LPN are calculated with reference to a pagemap corresponding to the LBN. A physical page of a physical block corresponding to the PBN and the PPN is accessed so that a reading operation is performed. On the other hand, when a writing operation for the LBN and the LPN is requested, a PBN and a PPN for a free-page of a physical block last assigned for the LBN are calculated with reference to a blockmap. The physical page of the physical block corresponding to the PBN and the PPN is accessed, so that a writing operation is performed. The pagemap stores a PBN and a PPN, and the blockmap stores a PBN list and a PPN.