A memory controller and a storage device including the same are provided. The memory controller for performing a buffering operation of temporarily storing data to be written to a non-volatile memory and data to be read from the non-volatile memory in a buffer memory includes a buffer request queue configured to store a plurality of buffer write requests requesting data to be temporarily stored in the buffer memory and a plurality of buffer read requests requesting data stored in the buffer memory to be read, a buffer traffic monitor configured to calculate the total amount of requested data in real time by summing the lengths of data specified in the respective buffer write requests and the respective buffer read requests stored in the buffer request queue, and a buffer manager configured to control execution of the buffering operation by setting an execution ratio based on the total amount of requested data calculated in real time.