A semiconductor memory includes a substrate configured to include a plurality of active regions which are defined by isolation layers extending in a first direction and word lines extending in a second direction intersecting the first direction; source line contacts configured to be alternately disposed over the active regions arranged in the first and second directions and disposed over each of the active regions arranged in a third direction intersecting the first and second directions; source lines configured to extend in the third direction while being coupled to the source line contacts; contacts configured to be disposed over each of the active regions over which the source line contacts are not disposed; variable resistance elements configured to be disposed over each of the contacts; bit line contacts configured to be disposed over each of the variable resistance elements; and bit lines configured to extend in a fourth direction intersecting the first to third directions while being coupled to the bit line contacts.