An electronic device, an on-chip memory and a method of operating the on-chip memory are disclosed. The on-chip memory including an on-chip memory comprises: a plurality of design Intellectual Property (IPs), a memory that includes a storage area and a processor connected to the memory, wherein the processor is configured to monitor a memory traffic of at least one IP among the plurality of design IPs, and control usage of a storage area based on a result of the monitoring. According to the electronic device, the on-chip memory and the method of operating the on-chip memory of the present disclosure, in an AP-CP one chip structure, a stable communication is secured, memory latency is secured for a code required to process a real time of a CP, and in the AP-CP one chip structure, a communication bandwidth is improved.