Embodiments of contact structures of a three-dimensional memory device and fabrication method thereof are disclosed. The three-dimensional memory structure includes a film stack disposed on a substrate, wherein the film stack includes a plurality of conductive and dielectric layer pairs, each conductive and dielectric layer pair having a conductive layer and a first dielectric layer. The three-dimensional memory structure also includes a staircase structure formed in the film stack, wherein the staircase structure includes a plurality of steps, each staircase step having two or more conductive and dielectric layer pairs. The three-dimensional memory structure further includes a plurality of coaxial contact structures formed in a first insulating layer over the staircase structure, wherein each coaxial contact structure includes one or more conductive and insulating ring pairs and a conductive core, each conductive and insulating ring pair having a conductive ring and an insulating ring.