A sensing circuit, a sensing method and a memory device are provided. The sensing method is applied to the memory device having the sensing circuit. The sensing circuit includes a compensation source and a sensing module. The compensation source is capable of providing a compensating current to a first node during a read cycle. The sensing module is coupled to the first node. A cell of the memory device is coupled to the first node. The cell is capable of generating a cell current during the read cycle, and the sensing module determines that the cell is in a first storing state or a second storing state in response to a relationship between the compensating current and the cell current.