A memory management apparatus and method are provided herein. The memory management apparatus includes a memory management list generation unit, a memory allocation unit, and a memory release unit. The memory management list generation unit generates a memory management list adapted to have all memory blocks divided into a plurality of memory blocks and to indicate whether each of the memory blocks has been allocated. The memory allocation unit allocates a memory region that belongs to the memory management list and that corresponds to an amount of memory requested for allocation in response to a memory allocation request. The memory release unit releases a memory region that belongs to the memory management list and that corresponds to a memory region to be released in response to a memory release request.