The present disclosure provides a data protection method, a memory control circuit unit and a memory storage device. The data protection method includes: establishing a security channel with a electronic device through a wireless communication network; acquiring an identification code through the security channel established on the wireless communication network; acquiring an encryption/decryption key by using the identification code and storing the encryption/decryption key in a buffer memory; decoding the data read from the rewritable non-volatile memory by using the encryption/decryption key, and the data in the rewritable non-volatile memory is encoded by using the encryption/decryption key; detecting whether an acknowledgement signal is received from the security channel established through the wireless communication network; and erasing the encryption/decryption key stored in the buffer memory if the acknowledgement signal is not received from the electronic device within a predetermined period of time.