The endurance degradation mechanisms of p-channel floating gate flash memory device with two-transistor (2T) structure are investigated in detail in this work. With the help of charge pumping (CP) measurements and Sentaurus TCAD simulations, the damages in the drain overlap region along the tunnel oxide interface caused by band-to-band (BTB) tunneling programming and the damages in the channel region resulted from Fowler-Nordheim (FN) tunneling erasure are verified respectively. Furthermore, the lifetime model of endurance characteristic is extracted, which can extrapolate the endurance degradation tendency and predict the lifetime of the device.