There is disclosed a flash memory cell and method of manufacturing the same, in which the circular hole is formed in the insulating film formed on the silicon substrate, the floating gate having a cylindrical shape is formed within the hole and the control gate is formed within the floating gate. Therefore, the source used as a current supply and the silicon substrate may be formed integratedly, and also the process of forming a device separation film can be omitted, thus allowing manufacturing an ultra high integration nonvolatile memory device.