A high dielectric constant (high-k) gate dielectric for a field effect transistor (FET) and a high-k tunnel dielectric for a non-volatile random access memory (NVRAM) device are simultaneously formed on a semiconductor substrate. A stack of at least one conductive material layer, a control gate dielectric layer, and a disposable material layer is subsequently deposited and lithographically patterned. A planarization dielectric layer is deposited and patterned, and disposable material portions are removed. A remaining portion of the control gate dielectric layer is preserved in the NVRAM device region, but is removed in the FET region. A conductive material is deposited in gate cavities to provide a control gate for the NVRAM device and a gate portion for the FET. Alternately, the control gate dielectric layer may replaced with a high-k control gate dielectric in the NVRAM device region.