A non-volatile memory system and a method of managing the power of the same are provided. The non-volatile memory system includes a non-volatile memory configured to store a first mapping table comprising a list of a logical address and a physical address corresponding to the logical address with respect to a code region and a list of a logical address and a physical address corresponding to the logical address with respect to a general purpose (GP) region, and a controller configured to load the first mapping table from the non-volatile memory to a first memory and load the second mapping table from the non-volatile memory to a second memory. Power-up of the second memory is delayed with respect to power-up of the non-volatile memory system and the first or second memory is powered down if a condition is satisfied, so that power consumption of the non-volatile memory system is reduced.