Provided is a processor and method of performing speculative load instructions of the processor in which a load instruction is performed only in the case where the load instruction substantially accesses a memory. A load instruction for canceling operations is performed in other cases except the above case, so that problems occurring by accessing an input/output (I/O) mapped memory area and the like at the time of performing speculative load instructions can be prevented using only a software-like method, thereby improving the performance of a processor.