The inventive concepts provide magnetic memory devices and methods forming the same. The method includes sequentially forming a first magnetic conductive layer and a capping layer on a substrate, patterning the capping layer and the first magnetic conductive layer to form a first magnetic conductive pattern and a capping pattern, forming an interlayer insulating layer exposing the capping pattern on the substrate, removing the capping pattern to expose the first magnetic conductive pattern, forming a tunnel barrier layer and a second magnetic conductive layer on the first magnetic conductive pattern and the interlayer insulating layer, and patterning the second magnetic conductive layer and the tunnel barrier layer to form a second magnetic conductive pattern and a tunnel barrier pattern.