This technology relates to a memory system in which a plurality of memory devices operates in an interleaving manner and an operating method of the memory system. The memory system may include a plurality of memory devices, a host controller suitable for generating a plurality of internal read commands by splitting an external read command applied from a host in a minimum read size, and a memory controller suitable for checking information about internal read commands which belong to the plurality of internal read commands and which are sequentially late in a section in which a read operation is performed on the plurality of memory devices based on check values of information about internal read commands which belong to the plurality of internal read commands and which are sequentially ahead.