A memory system is connectable to the host. The memory system includes a nonvolatile first memory, a second memory in which a plurality of pieces of first information each correlating a logical address indicating a location in a logical address space of the memory system with a physical address indicating a location in the first memory are stored, a volatile third memory including a first cache and a second cache, a compressor configured to perform compression on the plurality of pieces of first information, and a memory controller. The memory controller stores the first information not compressed by the compressor in the first cache, stores the first information compressed by the compressor in the second cache, and controls a ratio between a first capacity, which is a capacity of the first cache, and a second capacity, which is a capacity of the second cache.