There is provided a three-terminal atomic switching device and a method of manufacturing the same, which belongs to the field of microelectronics manufacturing and memory technology. The three-terminal atomic switching device includes: a stack structure including a source terminal and a drain terminal; a vertical trench formed by etching the stack structure; an M8XY6 channel layer formed on an inner wall and a bottom of the vertical trench; and a control terminal formed on a surface of the M8XY6 channel layer, wherein the control terminal fills the vertical trench. The source terminal resistance and the drain terminal resistance are controlled by the control terminal. The invention is based on the three-terminal atomic switching device, and realizes high switching ratio characteristic, simple structure, easy integration, high density and low cost due to high non-linearity of the source-drain resistance with respect to the control terminal voltage, and thus can be used in a gated device in a cross-array structure to inhibit a crosstalk phenomenon caused by the leakage current. The three-terminal atomic switching device proposed by the invention is suitable for a planar stacked cross-array structure and a vertical cross-array structure, so as to realize high-density three-dimensional storage.