In this paper, we proposed a partial-way set associative cache memory with an effective memory access time and low energy consumption. In the proposed set-associative cache memory, it is allowed to access only a 2-ways among 4-way at a time. Choosing ways to be accessed is made dynamically via the least significant two bits of the tag. The chosen 2 ways are sequentially accessed by the way selection bits that indicate the most recently referred way. Therefore, each entry in the way has an additional bit, that is, the way selection bit. In addition, instead of the 4-way LRU or FIFO algorithm, we can utilize a simple 2-way replacement policy. Simulation results show that the energy*delay product can be reduced by about 78%, 14%, 39%, and 15% compared with a 4-way set associative cache, a sequential-way cache, a way-tracking cache, and a way cache respectively.