A storage apparatus using a non-volatile memory, which retains data even after power interruption, as its cache and a method of managing the same are provided. The storage apparatus includes a main storage medium, a non-volatile memory used as a cache of the main storage medium, a region of the non-volatile memory being divided into a fixed region and a non-fixed region according to whether or not data is fixed, and a block management unit managing physical blocks by means of virtual addresses, the physical blocks being allocated to the non-volatile memory.