Most existing works on memory management focus on the efficiency, which are real-time, but have memory fragmentation problems. To address the problem, an efficient memory management algorithm based on segment tree was proposed. The proposed method built a memory management segment tree by dividing memory space into segments, and allocated and reclaimed memory efficiently and flexibly based on the memory management segment tree to reduce the memory fragmentation. Furthermore, a method was proposed to optimize the space complexity of segment trees. The experimental results show that the proposed method has advantages in terms of efficiency, memory fragmentation, storage space, and so on.