A method of manufacturing a non-volatile memory is provided. In the method, a first dielectric layer, a first conductive layer, and a first cap layer are formed sequentially on a substrate. The first cap layer and the first conductive layer are patterned to form first gate structures. A second dielectric layer is formed on the sidewall of the first gate structures, and a portion of the first dielectric layer is removed to expose the substrate between the first gate structures. An epitaxy layer is formed on the substrate between two first gate structures. A third dielectric layer is formed on the epitaxy layer. A second conductive layer is formed on the third dielectric layer. The first cap layer and a portion of the first conductive layer are removed to form second gate structures. Finally, a doped region is formed in the substrate at two sides of the second gate structures.