A method of fabricating a magnetic tunnel junction structure includes forming a magnetic tunnel junction layer on a substrate. A mask pattern is formed on a region of the second magnetic layer. A magnetic tunnel junction layer pattern and a sidewall dielectric layer pattern on at least one sidewall of the magnetic tunnel junction layer pattern are formed by performing at least one etch process and at least one oxidation process multiple times. The at least one etch process may include a first etch process to etch a portion of the magnetic tunnel junction layer using an inert gas and the mask pattern to form a first etch product. The at least one oxidation process may include a first oxidation process to oxidize the first etch product attached on an etched side of the magnetic tunnel junction layer.