A non-volatile memory located on a substrate is provided. The non-volatile memory includes a tunnel layer, a charge trapping composite layer, a gate and a source/drain region. The tunnel layer is located on the substrate, the charge trapping composite layer is located on the tunnel layer and the gate is located over the charge trapping composite layer. The source/drain region is located in the substrate on both sides of the tunnel layer. With the charge trapping composite layer, the non-volatile memory has relatively better programming and erasing performance and higher data retention ability. Furthermore, since there is no need to perform a thermal process in the formation of the charge trapping composite layer, thermal budget of the manufacturing process is low.