Embodiments provide a read operation circuit, a semiconductor memory, and a read operation method. The read operation circuit includes: a DBI encoder configured to read read data from a memory bank, and determine whether to invert the read data according to the number of bits of low data in the read data to output global bus data for transmission through a global bus and DBI data for transmission through a DBI signal line, wherein a DBI port is configured to receive the DBI data; a parallel-to-serial conversion circuit configured to perform parallel-to-serial conversion on the global bus data to generate output data of the DQ port; a data buffer module connected to the memory bank through the global bus; and a precharge module connected to a precharge signal line and configured to set an initial state of the global bus to High.