There are provided a magnetic memory device and a method of forming the magnetic memory device. The method of forming the magnetic memory device includes sequentially forming a first magnetic conductor, a tunnel barrier layer, and a second magnetic conductor on a substrate, forming a mask pattern on the second magnetic conductor, performing a primary etching of the second magnetic conductor by using the mask pattern as an etching mask, forming at least one spacer on sidewalls of the second magnetic conductor formed by the primary etching, and performing a secondary etching of the first magnetic conductor by using the mask pattern and the at least one spacers as an etching mask.