Disclosed is a phase-changeable memory device and a related method of reading data. The memory device is comprised of memory cells, a high voltage circuit, a precharging circuit, a bias circuit, and a sense amplifier. Each memory cell includes a phase-changeable material and a diode connected to a bitline. The high voltage circuit provides a high voltage from a power source. The precharging circuit raises the bitline up to the high voltage after charging the bitline up to the power source voltage. The bias circuit supplies a read current to the bitline by means of the high voltage. The sense amplifier compares a voltage of the bitline with a reference voltage by means of the high voltage, and reads data from the memory cell. The memory device is able to reduce the burden on the high voltage circuit during the precharging operation, thus assuring a sufficient sensing margin during the sensing operation.