The present invention provides a semiconductor device having an elevated source/drain and a method of fabricating the same. In the semiconductor device, an active region is defined at a predetermined region of a semiconductor substrate and a gate electrode is formed to cross over the active region. First and second insulating layer patterns are sequentially stacked on sidewalls of the gate electrode, and a silicon epitaxial layer adjacent to edges of the first and second insulating layer patterns is formed on the active region. The edge of the first insulating layer pattern is protruded from the edge of the second insulating layer pattern to be covered with the silicon epitaxial layer whose predetermined region is silicided. Further, the method includes defining an active region a semiconductor substrate, forming a gate electrode crossing over the active region, sequentially stacking first and second insulating layer patterns an active region adjacent to opposite sides of the gate electrode, forming a silicon epitaxial layer on the active region to be adjacent to edges of the first and second insulating layer patterns, and siliciding at least a part of the silicon epitaxial layer. The edge of the first insulating layer pattern contacting the active region is protruded from the edge of the second insulating layer pattern, and the silicon epitaxial layer covers the protruded edge of the first insulating layer pattern.