A virtualization apparatus includes: an emulation manager for searching a basic block cache for an entry with an entry point, and, if there exists no entry with the entry point in the basic block cache, requesting the identification of a basic block corresponding to the entry point; a basic block identifier for identifying the basic block by sequentially analyzing instructions of a source binary in response to a request from the emulation manager; and an instruction replacer for writing an entry of the identified basic block in a replaced instruction table, writing a branch instruction for the entry of the basic block in the source binary, and then branching to the entry point. The apparatus further includes an instruction emulator for executing an instruction of the basic block when a branch to the entry point is made.