The invention discloses a three-dimensional memory and a reading method thereof. The three-dimensional memory includes a phase change memory cell and a gating tube, wherein the phase change memory cell is connected with the gating tube in series to form a series structure; and is located between a word line and a bit line; the word lines and the bit lines are stacked in multiple layers to form a three-dimensional structure; when the phase change memory cell is in a high resistance state and when the gating tube is just opened, the voltage at the two ends of the phase change memory cell is smaller than the threshold voltage for converting the phase change memory cell from a high resistance state to a low resistance state; therefore, the phase change memory cell is not enough to generate phase change; only when the voltage at two ends of the three-dimensional memory is continuously increased to enable the voltage at two ends of the phase change memory cell to exceed the threshold voltage; and therefore, the phase change memory cell is subjected to phase change only when the threshold voltage of the phase change memory cell is larger than the threshold voltage of the phase change memory cell, and then the range of the read voltage is enlarged, and the margin of the optional read voltage is larger, and the problems of misreading and misoperation are reduced, and the utilization rate of the threshold voltage of the phase change memory cell is increased, and the requirement on the threshold voltage of the phase change memory cell is reduced.