A 3-dimensional (3D) flash memory having a structure that mitigates an interference phenomenon between neighboring cells in an oxide-nitride-oxide (ONO) layer, which is a charge storage layer, and a method of manufacturing the same are provided. The 3D flash memory includes at least one channel layer formed to extend in a first direction; a plurality of electrode layers formed to extend in a second direction orthogonal to a first direction so as to be vertically stacked with respect to the at least one channel layer; a plurality of air gaps interposed between the plurality of electrode layers to separate the plurality of electrode layers from each other; and at least one oxide-nitride-oxide (ONO) layer comprising a first oxide layer, a nitride layer, and a second oxide layer and formed to extend in the first direction to connect the at least one channel layer and the plurality of electrode layers, wherein the 3D flash memory includes a structure that mitigates an interference phenomenon between cells respectively contacting the plurality of electrode layers in the at least one ONO layer.