A memory device includes a memory cell array including memory cells disposed at points at which word lines and bit lines intersect, a first decoder circuit determining a selected bit line and non-selected bit lines among the bit lines, a second decoder circuit determining a selected word line and non-selected word lines among the word lines, a current compensation circuit providing a current path drawing a compensation current from the selected word line to compensate for off currents flowing in the non-selected bit lines, a first sense amplifier comparing a voltage of the selected word line with a reference voltage and outputting an enable signal, and a second sense amplifier outputting a voltage difference between the voltage of the selected word line and the reference voltage during an operating time determined by the enable signal in a readout operation mode of the memory device.