•Memory is thought to have modular architecture.•The basis of this idea are dissociation data which reveal the functional specialization of distinct brain areas.•Recent work suggests that dissociations are not absolute, but depend on past history of the organism.•This challenge can be solved if modularity is understood from the perspective of network neuroscience.•Neural networks can reconfigure and/or couple functionally to form meta-networks with new functionality. The multiple memory systems theory (MMS) postulates that the brain stores information based on the independent and parallel activity of a number of modules, each with distinct properties, dynamics, and neural basis. Much of the evidence for this theory comes from dissociation studies indicating that damage to restricted brain areas cause selective types of memory deficits. MMS has been the prevalent paradigm in memory research for more than thirty years, even as it has been adjusted several times to accommodate new data. However, recent empirical results indicating that the memory systems are not always dissociable constitute a challenge to fundamental tenets of the current theory because they suggest that representations formed by individual memory systems can contribute to more than one type of memory-driven behavioral strategy. This problem can be addressed by applying a dynamic network perspective to memory architecture. According to this view, memory networks can reconfigure or transiently couple in response to environmental demands. Within this context, the neural network underlying a specific memory system can act as an independent unit or as an integrated component of a higher order meta-network. This dynamic network model proposes a way in which empirical evidence that challenges the idea of distinct memory systems can be incorporated within a modular memory architecture. The model also provides a framework to account for the complex interactions among memory systems demonstrated at the behavioral level. Advances in the study of dynamic networks can generate new ideas to experimentally manipulate and control memory in basic or clinical research.