Mo-doped Sb1.8Te materials and electrical devices were investigated for high-thermal-stability and high-speed phase-change memory applications. The crystallization temperature (tc = 185 °C) and 10-year data retention (t10-year = 112 °C) were greatly enhanced compared with those of Ge2Sb2Te5 (tc = 150 °C, t10-year = 85 °C) and pure Sb1.8Te (tc = 166 °C, t10-year = 74 °C). X-ray diffraction and transmission electron microscopy results show that the Mo dopant suppresses crystallization, reducing the crystalline grain size. Mo2.0(Sb1.8Te)98.0-based devices were fabricated to evaluate the reversible phase transition properties. SET/RESET with a large operation window can be realized using a 10 ns pulse, which is considerably better than that required for Ge2Sb2Te5 (∼50 ns). Furthermore, ∼1 × 106 switching cycles were achieved.