Memory device and manufacturing method thereof

A memory device includes a substrate, a first transistor, a second transistor, and a capacitor. The first transistor is over the substrate and includes a select gate. The second transistor is over the substrate and connected to the first transistor in series, in which the second transistor includes a floating gate. The capacitor is over the substrate and connected to the second transistor, wherein the capacitor includes a top electrode, a bottom electrode in the substrate, and an insulating layer between the top electrode and the bottom electrode. The insulating layer includes nitrogen. A nitrogen concentration of the insulating layer increases in a direction from the top electrode to the bottom electrode.