An apparatus and method for dynamically analyzing a program are provided. The apparatus and method help minimize overhead in tracing the execution of the program without substantially affecting the operation of the program at run time. The method includes storing an environment value before execution of a function of a main page by storing a first instruction of the function in a temporary page before execution of the first instruction. The method also includes inserting a break instruction at an address of the first instruction in the main page, executing the break instruction, and storing an environment value after execution of the function by executing a break instruction of the temporary page.