The present invention relates to a memory with a self-test function and a method for testing the same. The memory comprises a testing unit, a memory unit, and a comparison module. The method for testing the memory comprises steps of the testing unit producing a pattern signal; a first storage block of the memory unit storing storage data, and outputting the storage data according to the pattern signal; a second storage block of the memory storing a compare signature corresponding to the storage data; and the compare module producing a test signature according to the storage data output by the memory unit, and comparing the test signature to the compare signature and outputting a testing result for judging validity of the memory unit. Thereby, the memory unit according to the present invention is partitioned into two storage blocks for storing the storage data and the compare signature, respectively, and thus achieving the purposes of saving the testing time, costs, and hardware resources.