A storage system and an operating method thereof are disclosed. The storage system includes a nonvolatile memory that stores data; a computing device to perform data processing on input data provided from the nonvolatile memory or a host outside the storage system; and a controller to control a writing operation and a reading operation of the nonvolatile memory, monitor an operating state of the computing device while the computing device is performing the data processing, and dynamically manage power of the computing device according to a monitoring result.