The present disclosure provides a semiconductor device with a fuse structure and an anti-fuse structure and a method for forming the semiconductor device. The semiconductor device includes a first dielectric layer disposed over a semiconductor substrate, and a first electrode disposed over the first dielectric layer. The semiconductor device also includes a fuse link disposed over the first electrode, and a second electrode disposed over the fuse link. The semiconductor device further includes a third electrode disposed adjacent to the first electrode, and a second dielectric layer separating the first electrode from the first dielectric layer and the third electrode. The first electrode, the fuse link, and the second electrode form a fuse structure, and the first electrode, the third electrode, and a portion of the second dielectric layer between the first electrode and the third electrode form an anti-fuse structure.