A method for managing cache space between one electronic device and multiple storage devices includes identifying and quantifying storage devices connected to an electronic device, and acquiring efficiency information of each identified storage device on preset occasions. Cache space of each storage device is computed on being connected to or being disconnected from the electronic device, taking account of information acquired as to efficiency and quantity of each of the storage devices. A core switch of the electronic device is controlled to allocate a computed cache space to a storage device.