An image forming apparatus and a method of controlling the same are provided. The image forming apparatus includes a device information storage unit, a determiner and a controller. The device information storage unit is included in a replaceable device of the image forming apparatus and stores device-related information. The determiner determines whether the replaceable deice is a licensed or recycled product by analyzing the information stored in the device information storage unit, and outputs the determination result. The controller controls an operation of the image forming apparatus in response to the determination result output from the determiner. Since an operation of the image forming apparatus can be controlled according to characteristics of the replaceable device installed in the image forming apparatus, printing quality can be prevented from being deteriorated, durability of the image forming apparatus can be lengthened, and a user can safely use the image forming apparatus.