A method and apparatus for memory calibration averaging is disclosed. In one embodiment, a memory subsystem includes a memory and a memory controller. The memory controller includes a calibration control circuit that periodically performs calibrations of the memory subsystem. Calibration may be performed for a delay applied to a data strobe used to synchronized transfers of data between the memory controller and the memory, and a reference voltage used to distinguish between a logic 0 and a logic 1 during memory reads. Following the performance of a calibration, the values of the delay and the reference voltage may be set based on an average of a most recent number of calibrations.