A delay locked loop increases an operation margin of a delay locked loop by using an output clock having more advanced phase than a DLL output clock. A clock delay compensation block receives an external clock signal to thereby generate a first multi clock and a second multi clock. A phase control block compares the first multi clock with the second multi clock to generate phase control signal controlling a shifting operation. A multi-phase delay control block performs a shifting operation based on the phase control signal to control the clock delay compensation block.