Provided is a method for reducing memory power consumption. A period of time allocated to a process is split into time slices each have a predetermined time interval, and a timer interrupt is generated for every time slice. It is checked whether context switch between processes occurs when the timer interrupt is generated. Memory banks having a memory allocated to a switched process are activated when the context switch occurs. All banks of a memory are converted into a low power state when the context switch does not occur. Accordingly, memory power consumption can be reduced through a software technique.