There are provided a memory system and an operating method thereof. The memory system includes: a memory device for storing data in a program operation, and reading stored data and temporarily store the read data in a read operation; and a controller for transmitting data to the memory device, wherein the controller includes: a flash direct memory access (DMA) for reading and outputting the data temporarily stored in the memory device in the read operation; a buffer memory for storing the data output from the flash DMA; and a host DMA for reading the data stored in the buffer memory and outputting the read data to a host, wherein a first operation of storing the data temporarily stored in the memory device in the buffer memory and a second operation of outputting the data stored in the buffer memory to the host are performed in parallel.