A phase change memory device and fabricating method are provided. A disk-shaped phase change layer is buried within the insulating material. A center via and ring via are formed by a lithography. The center via is located in the center of the phase change layer and passes through the phase change layer, and the ring via takes the center via as a center. A heating electrode within the center via performs Joule heating of the phase change layer, and the contact area between the phase change layer and the heating electrode is reduced by controlling the thickness of the phase change layer. Furthermore, a second electrode within the ring via dissipates the heat transmitted to the contact interface between the phase change layers, so as to avoid transmitting the heat to the etching boundary at the periphery of the phase change layer.