In a method of fabricating a metal-insulator-metal (MIM) capacitor and a metal-insulator-metal (MIM) capacitor fabricated according to the method, the method comprises: forming an insulating-layer pattern on a semiconductor substrate, the insulating-layer pattern having a plurality of openings that respectively define areas where capacitor cells are to be formed; forming a lower electrode conductive layer on the insulating-layer pattern and on the semiconductor substrate; forming a first sacrificial layer that fills the openings on the lower electrode conductive layer; forming a second sacrificial layer on of the first sacrificial layer; planarizing the second sacrificial layer; exposing an upper surface of the lower electrode conductive layer; removing the exposed lower electrode conductive layer to form a plurality of lower electrodes that are separated from each other, each corresponding to a capacitor cell; and forming dielectric layers and upper electrodes, that are separated from each other, each corresponding to a capacitor cell, on each of the lower electrodes to provide a plurality of MIM capacitor cells constituting one capacitor to which the same electric signal is applied.